Ault Lending Group Files SC 13D/A for Algorhythm Holdings

TL;DR

Ault Lending & crew filed 13D/A for Algorhythm Holdings (fka Singing Machine). Ownership change incoming.

AI Summary

On October 8, 2024, Ault Lending, LLC, along with Henry C.W. Nisser, James M. Turner, Kenneth S. Cragun, and Milton C. Ault, III, filed an SC 13D/A amendment concerning Algorhythm Holdings, Inc. (formerly Singing Machine Co Inc). This filing also pertains to Hyperscale Data, Inc. (formerly Ault Alliance, Inc., BitNile Holdings, Inc., and Ault Global Holdings, Inc.). The filing indicates a change in beneficial ownership, though specific dollar amounts or share percentages are not detailed in this excerpt.

Why It Matters

This filing signals a potential shift in control or significant stakeholding in Algorhythm Holdings, Inc., which could impact its future strategic direction and stock performance.

Risk Assessment

Risk Level: medium — SC 13D/A filings often indicate significant changes in beneficial ownership, which can lead to increased volatility and strategic shifts for the subject company.

Key Players & Entities

• Ault Lending, LLC (company) — Filing Group Member
• Henry C. W. Nisser (person) — Filing Group Member
• James M. Turner (person) — Filing Group Member
• Kenneth S. Cragun (person) — Filing Group Member
• Milton C. Ault, III (person) — Filing Group Member
• Algorhythm Holdings, Inc. (company) — Subject Company
• Singing Machine Co Inc (company) — Former Name of Algorhythm Holdings, Inc.
• Hyperscale Data, Inc. (company) — Related Company
• Ault Alliance, Inc. (company) — Former Name of Hyperscale Data, Inc.
• BitNile Holdings, Inc. (company) — Former Name of Hyperscale Data, Inc.

FAQ

Key Financial Figures

• $0.01 — Inc. (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securiti
• $336,600.60 — nding’s aggregate expenditures by $336,600.60. Consequently, as of the date of this A
• $9,103,490.19 — lt Lending has expended an aggregate of $9,103,490.19 for the purchase of the Shares. Item
• $0.70 — ,868 Shares sold on October 7, 2024, at $0.70 per share, or as previously disclosed o

Filing Documents

• o108241sc13da10.htm (SC 13D/A) — 111KB
• 0001214659-24-017300.txt ( ) — 113KB

Source and Amount of Funds or Other Consideration

Item 3. Source and Amount of Funds or Other Consideration .

of the Schedule 13D is hereby amended

Item 3 of the Schedule 13D is hereby amended and restated in its entirety as follows: The Shares purchased by Ault Lending were purchased with working capital in open market purchases. The Shares transacted by Ault Lending as reported on this Amendment No. 10 decreased Ault Lending’s aggregate expenditures by $336,600.60. Consequently, as of the date of this Amendment No. 10, Ault Lending has expended an aggregate of $9,103,490.19 for the purchase of the Shares.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer .

of the Schedule 13D is hereby amended

Item 5 of the Schedule 13D is hereby amended and restated in its entirety as follows: The aggregate percentage of Shares reported owned by each Reporting Person herein is based upon 9,736,850 Shares outstanding, which is the total number of Shares outstanding as of August 16, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on August 19, 2024. A. Hyperscale Data (a) As of the date hereof, Hyperscale Data may be deemed to beneficially own 945,000 Shares, consisting of Shares held by Ault Lending. Hyperscale Data may be deemed to beneficially own the Shares beneficially owned by Ault Lending by virtue of its relationship with such entity described in Item 2. Percentage: 9.7% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 945,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 945,000 (c) Hyperscale Data has not entered into any transactions in the Shares during the past sixty days. B. Ault Lending (a) As of the date hereof, Ault Lending beneficially owns 945,000 Shares held directly by it. Percentage: 9.7% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 945,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 945,000 (c) Other than as previously disclosed on the Schedule 13D and the transactions set forth in Schedule A attached hereto, which are both incorporated by reference, Ault Lending has not entered into any transactions in the Shares during the past sixty days. All of such transactions were effected in the open market. 8 C. Milton C. Ault, III (a) As of the date hereof, Mr. Ault may be deemed to beneficially own 945,000 Shares, consisting of Shares held by Ault Lending. Mr. Ault may be deemed to beneficially own the Shares beneficially owned by Ault Lending by virt

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: October 8, 2024 HYPERSCALE DATA, INC. /s/ MILTON C. AULT, III MILTON C. AULT, III By: /s/ MILTON C. AULT, III Name: Milton C. Ault, III Title: Executive Chairman AULT LENDING, LLC /s/ KENNETH S. CRAGUN KENNETH S. CRAGUN By: /s/ DAVID J. KATZOFF Name: David J. Katzoff Title: Manager /s/ HENRY C.W. NISSER Henry C. W. Nisser /s/ JAMES M. TURNER JAMES M. TURNER 11 SCHEDULE A Transactions in the Shares of Common Stock During the Last Sixty Days Ault Lending, LLC Nature of the Transaction Shares of Common Stock Purchased / (Sold) Price Per Share ($) Date of Transaction Sale of Common Stock (2,774) 0.5121 09/27/2024 Sale of Common Stock (35,600) 0.4949 09/30/2024 Sale of Common Stock (50,380) 0.4916 10/01/2024 Sale of Common Stock (4,230) 0.4686 10/02/2024 Sale of Common Stock (3,000) 0.4647 10/03/2024 Sale of Common Stock (365,100) 0.7320 10/07/2024 12

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View this SC 13D/A filing on SEC EDGAR