Ownership Change Filed for Algorhythm Holdings, Inc.

TL;DR

BIG 13D/A filing for Algorhythm Holdings (fka Singing Machine) - ownership update from Ault Lending group.

AI Summary

On October 21, 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. This filing indicates a change in beneficial ownership for the company, which was formerly known as Singing Machine Co Inc. The filing also lists Hyperscale Data, Inc. as a filer, formerly known as Ault Alliance, Inc., BitNile Holdings, Inc., and Ault Global Holdings, Inc.

Why It Matters

This filing signals a potential shift in control or significant stake changes for Algorhythm Holdings, Inc., which could impact its stock price and strategic direction.

Risk Assessment

Risk Level: medium — SC 13D filings often indicate significant activist investor activity or changes in control, which can lead to increased volatility.

Key Players & Entities

• Ault Lending, LLC (company) — Filer and group member
• Henry C. W. Nisser (person) — Group member
• James M. Turner (person) — Group member
• Kenneth S. Cragun (person) — Group member
• Milton C. Ault, III (person) — Group member
• Algorhythm Holdings, Inc. (company) — Subject company
• Singing Machine Co Inc (company) — Former name of Algorhythm Holdings, Inc.
• Hyperscale Data, Inc. (company) — Filer and former company name holder
• 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
• $122,324.14 — nding’s aggregate expenditures by $122,324.14. Consequently, as of the date of this A
• $8,829,324.93 — lt Lending has expended an aggregate of $8,829,324.93 for the purchase of the Shares. Item

Filing Documents

• v1021240sc13da12.htm (SC 13D/A) — 108KB
• 0001214659-24-017737.txt ( ) — 111KB

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. 12 decreased Ault Lending’s aggregate expenditures by $122,324.14. Consequently, as of the date of this Amendment No. 12, Ault Lending has expended an aggregate of $8,829,324.93 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 300,000 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: 3.1% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 300,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 300,000 (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 300,000 Shares held directly by it. Percentage: 3.1% (b) 1. Sole power to vote or direct vote: 0 2. Shared power to vote or direct vote: 300,000 3. Sole power to dispose or direct the disposition: 0 4. Shared power to dispose or direct the disposition: 300,000 (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 300,000 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 21, 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 (11,045) 0.4110 10/17/2024 Sale of Common Stock (290,000) 0.4062 10/18/2024 12

View Full Filing

View this SC 13D/A filing on SEC EDGAR