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Fort Lauderdale, FL, Dec. 17, 2024 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (Nasdaq: RIME) ("Algorhythm” or the "Company”), an AI-driven technology and consumer electronics holding company today announced that it has entered into a definitive agreement with several investors for the purchase and sale of an aggregate of 24,067,388 of the Company's common stock, par value $0.01 per share (the "Common Stock”) at a purchase price of 0.0831 per share in a registered direct offering priced at-the-market under Nasdaq rules. The aggregate gross proceeds to the Company of this offering are expected to be approximately $2 million. The transaction is expected to close on or about December 18, 2024, subject to the satisfaction of customary closing conditions. Univest Securities, LLC is acting as the sole placement agent. The registered direct offering is being made pursuant to a shelf registration statement on Form S-3 (File No. 333-269183) previously filed by the Company and declared effective by the U.S. Securities and Exchange Commission ("SEC”) on January 20, 2023. A final prospectus supplement and accompanying prospectus describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC's website located at http://www.sec.gov . Electronic copies of the final prospectus supplement and the accompanying prospectus may be obtained, when available, by contacting Univest Securities, LLC at [email protected] , or by calling +1 (212) 343-8888. This press release does not constitute an offer to sell or the solicitation of an offer to buy, nor will there be any sales of such securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. Copies of the prospectus supplement relating to the registered direct offering, together with the accompanying base prospectus will be filed by the Company and, upon filing, can be obtained at the SEC's website at www.sec.gov . About Algorhythm Holdings, Inc. Algorhythm Holdings, Inc. is a holding company with two primary investments. First, the Company owns SemiCab Holdings, an emerging leader in the AI-enabled global logistics industry. Second, the Company owns The Singing Machine Company, the worldwide leader in the consumer karaoke industry. SemiCab is a cloud-based Collaborative Transportation Platform built to achieve the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. To orchestrate collaboration across manufacturers, retailers, distributors, and their carriers, SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners. To build fully loaded round trips, SemiCab uses AI/ML predictions and advanced predictive optimization models. On the SemiCab platform, shippers pay less and carriers make more while not having to change a thing. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these common supply-chain problems globally. SemiCab's Orchestrated Collaboration TM AI model has proven to increase transportation capacity, improve asset utilization, reduce empty miles, lower logistics costs, and provide visibility into the entire transportation network. Models show the technology has the capability of saving shippers tens of billions of dollars annually through optimization. Further, SemiCab's technology also has the potential to play a key role in the improved sustainability model globally. Based on its proven ability to improve truck utilization rates from 65% to over 90%, this results in a dramatic reduction in the carbon footprint of the industry. The optimization of existing truck utilization can add approximately 30% more trucking capacity without adding more trucks, drivers or driven miles which addresses common problems plaguing the industry like severe driver shortage and road congestion. Trucking optimization could also eliminate approximately 25% of CO2 emissions attributable to road freight. For additional information regarding SemiCab: http://www.semicab.com The Singing Machine Company, Inc. is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, the Company designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Their portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world's first globally available, fully integrated in-car karaoke system. The Company also has a new philanthropic initiative, CARE-eoke by Singing Machine, to focus on the social impact of karaoke for children and adults of all ages who would benefit from singing. Their products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam's Club, Target, and Walmart. To learn more, go to www.singingmachine.com . Forward-Looking Statements Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may,” "will,” "expect,” "anticipate,” "aim,” "estimate,” "intend,” "plan,” "believe,” "potential,” "continue,” "is/are likely to” or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and in its other filings with the U.S. Securities and Exchange Commission. Investor Relations Contact: [email protected] www.algoholdings.comConor McGregor doubles down on his innocence in follow-up statement after being found liable of sexual assault

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H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister and Minister of Defence of the UAE, and Chairman of the Board of Trustees of the Dubai Future Foundation (DFF), today launched the Middle East’s first-of-its-kind drone delivery system at Dubai Silicon Oasis (DSO), the special economic zone for knowledge and innovation and a member of the Dubai Integrated Economic Zones Authority (DIEZ). The launch event was attended by H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of the Dubai Civil Aviation Authority, Chairman of Dubai Airports, Chairman and Chief Executive of Emirates Airline and Group, and Chairman of the Dubai Integrated Economic Zones Authority. He placed the first order using the drone delivery system through the platform from the Rochester Institute of Technology-Dubai (RIT-Dubai), one of the landing points within DSO’s drone delivery network. The order was successfully delivered from one of the take-off points in the community. H.H. Sheikh Hamdan bin Mohammed reaffirmed Dubai’s commitment to developing advanced infrastructure and fostering an innovative environment to enhance smart logistics and cutting-edge air transport solutions, aligned with the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, to establish Dubai as a leader among future-ready cities. His Highness said, “We continue to support projects that drive a diversified, flexible digital economy by leveraging advanced technology in Dubai and empowering the aviation and air transport sectors. Our strategy places a high priority on strengthening public-private partnerships to catalyse research and development (R&D), sustainable growth, and smart mobility. This aligns with the Dubai Economic Agenda D33, which aims to position Dubai among the world’s top three urban economies.” Highlighting the importance of economic growth driven by R&D and innovation, H.H. Sheikh Hamdan said, “Over the past years, we have launched a series of programmes in Dubai aimed at promoting the development of smart city solutions, enhancing economic integration between various sectors, and employing technology in the service of society, such as the Dubai Programme to Enable Drone Transportation, the Dubai Robotics and Automation Programme, the Dubai Research and Development Program, and Dubai’s annual plan to accelerate the adoption of artificial intelligence. Today, we are reaping the impressive results of these initiatives and continuing the transformational projects that will double the size of Dubai’s economy by 2033.” H.H. Sheikh Hamdan bin Mohammed further said, “The future of robotic technologies and self-driving systems for retail services, and knowledge-based economic applications, innovation, digital transformation and the use of artificial intelligence have all become a reality in Dubai.” His Highness emphasised Dubai’s pioneering role in driving innovation and creating new opportunities. “Dubai has consistently led the way in advancing research, innovation, and the adoption of transformative technologies. A decade ago, we introduced the UAE Drones for Good Award to encourage the positive use of drone technology. Today, we have reached a significant milestone with operational readiness to commence drone delivery operations. Through strong collaboration between the public and private sectors, we aim to further raise the quality of services, enhance quality of life, and accelerate economic growth.” The launch was also attended by Omar bin Sultan Al Olama, Minister of State For Artificial Intelligence, Digital Economy and Remote Work Applications; Mattar Al Tayer, Director General and Chairman of the Board of Executive Directors of Dubai’s Roads and Transport Authority (RTA); Lieutenant General Talal Belhoul Al Falasi, President of Dubai’s State Security Department; and several senior officials. His Highness’ comments were made during the completion of a joint project between Dubai Civil Aviation Authority, the Dubai Integrated Economic Zones Authority (DIEZ), and the Dubai Future Foundation (DFF), to finalise preparations for launching drone delivery services in DSO. Their efforts resulted in the creation of dedicated air routes aligned with existing airspace usage in DSO. H.H. Sheikh Ahmed bin Saeed Al Maktoum emphasised that Dubai’s global leadership in aviation, logistics, and future mobility stems from the visionary leadership of His Highness Sheikh Mohammed bin Rashid Al Maktoum. This vision has established Dubai as one of the most advanced hubs for air transport and aviation solutions. Dubai also leads in excellence in research, development, and testing of cutting-edge technologies, including drones and related services, leveraging these innovations to drive development and serve communities worldwide. The pilots at Dubai Silicon Oasis were the culmination of the Dubai Programme to Enable Drone Transportation, launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum in 2021. The MoU to initiate the programme’s operations was signed by several government and private sector entities, including Dubai Silicon Oasis, Dubai Future Foundation, Dubai Civil Aviation Authority, the Roads and Transport Authority, Fakeeh University Hospital, Majid Al Futtaim, and Emirates SkyCargo. Over the past few months, Dubai Silicon Oasis hosted a series of pilot operations for drone delivery operations to ensure the highest aviation safety and security standards. This was done in cooperation with the DCAA and Keeta Drone, a pioneer in this field and the most well-known drone delivery platform in China. This is the company’s first venture outside the Greater China region. Dr. Mohammed Al Zarooni, Executive Chairman of DIEZ, said, “DIEZ is committed to supporting initiatives that utilise advanced technologies to facilitate people’s daily lives, and provide a conducive environment to pilot smart solutions ahead of implementation. We are proud to be a key partner of the Dubai Program to Enable Drone Transportation, launched by H.H. Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, in 2021.” He added, “We are delighted to launch drone delivery operations at DSO, which has become an internationally recognised lab for the latest smart technologies. The launch marks a new milestone in the shift towards a future of technological innovation. We are committed to working with both, the private and public sectors, to test and implement projects and initiatives in the smart mobility field, in a bid to offer the emirate’s residents the most advanced smart services as part of the emirate’s broader strategy to make Dubai the world’s best place to live.” Mohammed Abdullah Linjawi, Director General of DCAA, said, “We are committed to making a vital contribution to enhancing Dubai’s position as one of the cities best prepared for the future and a global hub for innovation in the aviation sector. This new achievement in the field of drone delivery reflects the continuous efforts made by the emirate under the guidance of the wise leadership, which has always attached great importance to developing safe and efficient transportation solutions that contribute to improving quality of life, strengthening Dubai’s future economy and making it a leading model in developing and implementing smart solutions in the field of aviation.” He added, “Drone delivery will reach 33% of Dubai by 2030, positioning the emirate as a pioneer in smart mobility. We will continue our pioneering role in creating new opportunities by regulating and operating drones and paving the way for the introduction of various emerging and promising technologies in the field of aviation in cooperation with government and private entities, and applying the best international practices to ensure the safety of air operations and using the latest technologies to enhance the efficiency of advanced logistics services.” Khalfan Belhoul, CEO of Dubai Future Foundation, stressed that this achievement embodies the forward-thinking vision of the leadership and Dubai’s commitment to design and execute the future. It also reflects Dubai’s remarkable successes in developing advanced infrastructure and creating integrated systems to support the growth of smart mobility, delivery, and logistics services over the past years. Belhoul noted, “The Dubai Future Foundation is committed to collaborating with public and private entities, in line with H.H. Sheikh Hamdan bin Mohammed’s directives to accelerate progress in vital economic and future sectors.” “We will continue to work with our partners through various projects, programmes, and initiatives, such as the 'Dubai Program to Enable Drone Transportation,' the 'Dubai Robotics and Automation Program,' and the 'Dubai Research, Development, and Innovation Programme'. This aligns with our mission to reinforce Dubai’s position as one of the world’s most future-ready cities,” Belhoul added. Dr. Yinian Mao, VP of Meituan and President of Keeta Drone, the overseas arm of the drone delivery unit of Meituan, a leading tech-driven retail company in China, said, “Our venture in the Middle East aligns with the parent company’s growth strategy. We are excited to have an ideal partner such as Dubai Integrated Economic Zones Authority that offers businesses and investors three economic zones of choice to ensure the right platform to establish and grow in this region. Through our presence in Dubai Silicon Oasis, we are keen to bring drone delivery solutions to its community and look forward to expanding the initiative across Dubai, and the wider region.” Dr. Yousef Al-Assaf, President of Rochester Institute of Technology in Dubai, said, “We are proud to forge a unique partnership with diverse public and private sector entities in the project to test, implement and launch the first drone delivery system in the Middle East, from Dubai Silicon Oasis, which consolidates its position as a hub for future technologies. The participation of RIT-Dubai, headquartered in DSO, in this pioneering project enables it to develop its academic competencies, empower local talent, and provide a world-class academic and research laboratory environment.” With the aid of cutting-edge flight control algorithms and multi-sensor fusion positioning technology, the drone is designed to operate in various city landscapes. It is equipped with low-noise propellers, a parachute, and a flight control system, all developed in-house. Follow Emirates 24|7 onNone

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The 10 cities with the most billionaires on Earth - Yahoo! VoicesIf you buy something from a Verge link, Vox Media may earn a commission. Scientific advisers to the European Commission are calling for a moratorium across the EU on efforts to artificially cool Earth through solar geoengineering. That includes controversial technologies used to reflect sunlight back into space, primarily by sending reflective particles into the atmosphere or by brightening clouds. Proponents argue that this can help in the fight against climate change, especially as planet-heating greenhouse gas emissions continue to climb. But small-scale experiments have triggered backlash over concerns that these technologies could do more harm than good. The European Commission asked its (GCSA) and (EGE) to write up their opinions on solar geoengineering, which were published today alongside a synthesizing what little we know about how these technologies might work. Experiments have triggered backlash over concerns that these technologies could do more harm than good There’s “insufficient scientific evidence” to show that solar geoengineering can actually prevent climate change, says the opinion written by the GCSA. “Given the currently very high levels of scientific and technical uncertainty ... as well as the potential harmful uses, we advocate for a moratorium on all large-scale [solar geoengineering] experimentation and deployment,” writes the EGE in the second highly anticipated opinion. Solar geoengineering merely attempts to tackle “the symptoms rather than the root causes of climate change,” according to the GCSA. Greenhouse gas emissions including carbon dioxide from fossil fuels are heating the planet. Trying to artificially cool Earth does nothing to stop that pollution from building up, nor does it treat other serious consequences like as they absorb excess CO2. It could also cause unintended problems, including changing rainfall patterns or impacting food production and solar energy generation, the GCSA notes. The tactic that’s gained the most attention so far involves mimicking the way by spewing sulfur dioxide into the stratosphere, producing a reflective haze. But using sulfur dioxide can also be considered a pollutant that might irritate people’s lungs, lead to acid rain, and potentially rip open the Antarctic ozone hole. One solar geoengineering startup notoriously lit up and pumped the resulting sulfur dioxide into it in 2022. Soon after, Mexico became the first country to experiments. That didn’t stop the US-based company from going home to grill more fungicide and . The experiments were likely too small to have any major impact on the climate. Nevertheless, the company at $10 per gram of sulfur dioxide to anyone interested in trying to offset their carbon emissions. The GCSA’s opinion says the European Commission ought to “oppose” the use of cooling credits from solar geoengineering. Facing the prospect of more rogue experiments, lawmakers are . The governing body of the United Nations Convention on Biological Diversity adopted restrictions on large-scale geoengineering , but it exempts small-scale experiments. Now, the European Commission’s scientific advisers recommend a more explicit EU-wide moratorium. It also recommends setting the stage for a new international treaty on solar geoengineering and says that the EU should advocate against deploying such technologies globally for the “foreseeable future.” There have been some into solar geoengineering, though likely confined to labs and computer models for now. Harvard recently to conduct an outdoor test flight in Sweden after facing opposition from Indigenous Saami leaders who said they weren’t consulted about the experiment. The European Commission should assess new research on solar geoengineering every five to 10 years, its scientific advisers say. “These technologies do show some promise, but they are far from mature,” Ekaterina Zaharieva, commissioner for startups, research, and innovation, said in a today. “Research must continue, but the opinion of the European Group on Ethics shows research must be rigorous and ethical, and it must take full account of the possible range of direct and indirect effects.” /