Singing Machine terminates at-the-market equity raising program, shares up

Algorhythm Holdings

16/05/2023 13:25

** Shares of karaoke products maker Singing Machine Co
 MICS.O  rise 25.7% to $1.32 premarket
    ** Co terminates its "at-the-market" (ATM) equity program,
citing it had achieved the objective of raising capital under
the ATM
    ** Says it has raised $1.74 mln in gross proceeds through
the program 
    ** Co entered the ATM program with agent Aegis Capital Corp
on Feb. 15
    ** MICS shares down about 76% YTD

 (Reporting by Vaibhav  Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))