---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-23-000757"
form_type: "8-K"
ticker: "RVYL"
cik: "0001419275"
company_name: "RYVYL Inc."
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:16:32.051719+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001185185-23-000757
- form_type: 8-K
- ticker: RVYL
- cik: 0001419275
- company_name: RYVYL Inc.
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1419275/000118518523000757/0001185185-23-000757-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1419275/000118518523000757/ryvyl20230725_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-23-000757
- JSON: https://secwatch.observer/filing/0001185185-23-000757.json
- Plain text: https://secwatch.observer/filing/0001185185-23-000757.txt

## Key facts
- Material Agreements
  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
  source text: 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”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1419275/000118518523000757/0001185185-23-000757-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.