RYVYL exchanges $22.7M convertible note for 15,000 Series A preferred shares

RYVYL Inc.

Initial exchange of $6M (including $1.7M interest) for 6,000 shares expected by July 27, 2023.
Final exchange of $16.7M remaining principal for 9,000 shares subject to stockholder approval.
Total debt reduced by $22.7M; stated value of preferred ~$7.7M less than note exchanged.
Preferred stock convertible at $2.00/share (fixed) or alternate conversion price (floor $0.24).
Company cites improved cash flow (~$5M H2 2023) and reduced Nasdaq compliance risk.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

RYVYL Inc. entered into Exchange Agreement with an institutional investor valued at an aggregate of $22.703 million of the outstanding principal and interest (effective 2025-07-25).

Action: entry
Agreement: equity purchase
Counterparty: an institutional investor
Value: an aggregate of $22.703 million of the outstanding principal and interest
Effective: 2025-07-25

Exact text from the filing

On July 25, 2023, RYVYL Inc., a Nevada corporation (the “Company”), entered into an Exchange Agreement (the “Exchange Agreement”) with an institutional investor (the “Investor”), which previously provided $100 million in convertible note financing to the Company, evidenced by an 8% Convertible Note Due 2023, issued to the Investor on November 8, 2021 (the “Note”)

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622 material agreements filed in the last 30 days. Browse all material agreements →

RYVYL Inc. filing history →

Source: SEC EDGAR

accession 0001185185-23-000757

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