Algorhythm Holdings Announces Termination Of Its At-the-Market Equity Program
Portfolio Pulse from Benzinga Newsdesk
Algorhythm Holdings (NASDAQ: RIME) has terminated its at-the-market equity program with Ascendiant Capital after raising $1.4 million by selling 2.16 million shares at $0.65 each.
October 08, 2024 | 12:09 pm
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Algorhythm Holdings has terminated its ATM equity program after successfully raising $1.4 million. This decision may stabilize the stock price as no further dilution is expected from this program.
The termination of the ATM program indicates that Algorhythm Holdings has achieved its capital raising goals, which could lead to a positive short-term impact on the stock price as it removes the potential for further dilution from this program. Investors may view this as a sign of financial stability.
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