Algorhythm issues 3,500 Series A preferred shares to Streeterville in unregistered exchange deal

• Algorhythm completed an unregistered issuance of 3,500 shares of newly created Series A Preferred Stock to Streeterville on June 29, 2026.
• The shares were exchanged for a $3.5 million partitioned amount from Secured Pre-Paid Purchase #4 under a prior securities purchase agreement.
• No cash proceeds were received; the consideration was cancellation of the $3.5 million balance.
• Series A Preferred carries a $1,150 stated value per share; 9% annual preferred return compounding daily; payable quarterly in cash or additional shares.
• The security is non-convertible, non-voting in most cases, senior to common; redeemable at 110% of the applicable liquidation amount.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Algorhythm Holdings Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001493152-26-031919), on July 02, 2026, and is solely responsible for the information contained therein.