Singing Machine Co. Files 8-K with Material Agreement
Ticker: RIME · Form: 8-K · Filed: Apr 3, 2024 · CIK: 923601
| Field | Detail |
|---|---|
| Company | Singing Machine Co Inc (RIME) |
| Form Type | 8-K |
| Filed Date | Apr 3, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $0.01, $2 million, $570,000.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, filing
TL;DR
Singing Machine Co. signed a big deal on 3/28, filing an 8-K. Details to come.
AI Summary
On March 28, 2024, Singing Machine Co., Inc. entered into a Material Definitive Agreement, the details of which are not fully disclosed in this filing. The company also reported other events and filed financial statements and exhibits. The filing was made on April 3, 2024.
Why It Matters
This 8-K filing indicates a significant event for Singing Machine Co., Inc., potentially impacting its business operations and financial standing.
Risk Assessment
Risk Level: medium — The filing indicates a material definitive agreement, which could represent a significant change or risk for the company, but the lack of specific details makes the exact risk level uncertain.
Key Players & Entities
- Singing Machine Co., Inc. (company) — Registrant
- March 28, 2024 (date) — Date of earliest event reported
- April 3, 2024 (date) — Filing date
- Delaware (jurisdiction) — State of incorporation
- 001-41405 (identifier) — Commission File Number
- 95-3795478 (identifier) — IRS Employer Identification No.
- 6301 NW 5th Way , Suite 2900 Fort Lauderdale , FL 33309 (address) — Principal executive offices
- (954) 596-1000 (phone_number) — Registrant's telephone number
FAQ
What is the nature of the Material Definitive Agreement entered into by Singing Machine Co., Inc. on March 28, 2024?
The filing does not provide specific details about the nature of the Material Definitive Agreement.
When was this 8-K filing submitted to the SEC?
This 8-K filing was submitted on April 3, 2024.
What is the principal executive office address for Singing Machine Co., Inc.?
The principal executive offices are located at 6301 NW 5th Way, Suite 2900, Fort Lauderdale, FL 33309.
What is the Commission File Number for Singing Machine Co., Inc.?
The Commission File Number for Singing Machine Co., Inc. is 001-41405.
What is the IRS Employer Identification Number for Singing Machine Co., Inc.?
The IRS Employer Identification Number for Singing Machine Co., Inc. is 95-3795478.
Filing Stats: 1,127 words · 5 min read · ~4 pages · Grade level 12.4 · Accepted 2024-04-03 17:16:09
Key Financial Figures
- $0.01 — ch registered Common stock, par value $0.01 per share MICS The Nasdaq Stock Mar
- $2 million — evolving Credit Note (the "Note") for a $2 million revolving line of credit (the "Line of
- $570,000.00 — Five Hundred Seventy Thousand Dollars ($570,000.00) ("Minimum Loan Balance"). If the actua
Filing Documents
- form8-k.htm (8-K) — 49KB
- ex10-1.htm (EX-10.1) — 169KB
- ex10-2.htm (EX-10.2) — 39KB
- ex10-3.htm (EX-10.3) — 60KB
- ex99-1.htm (EX-99.1) — 8KB
- 0001493152-24-013045.txt ( ) — 554KB
- mics-20240328.xsd (EX-101.SCH) — 3KB
- mics-20240328_lab.xml (EX-101.LAB) — 33KB
- mics-20240328_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
01. Other Events
Item 8.01. Other Events On April 3, 2024, the Company issued a press release announcing the closing of a $2 million senior credit facility with Oxford Commercial Finance, a subsidiary of Oxford Bank. A copy of the press release is attached hereto as Exhibit 99.1. Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1* Loan Agreement dated March 28, 2024. 10.2* Revolving Credit Note dated March 28, 2024. 10.3* Security Agreement dated March 28, 2024. 99.1 Press Release 101 Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language). 104 Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). * Schedules and similar attachments have been omitted pursuant to Regulation S-K Item 601(a)(5). The Company agrees to furnish a supplemental copy of any omitted schedule or attachment to the Securities and Exchange Commission upon request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 3, 2024 THE SINGING MACHINE COMPANY, INC. By: /s/ Gary Atkinson Gary Atkinson Chief Executive Officer