RYVYL announces 1-for-10 reverse stock split to maintain Nasdaq compliance

RYVYL Inc.

Reverse split reduces outstanding shares from ~52.4M to ~5.24M, effective Sept 6, 2023.
Trading on adjusted basis begins Sept 7, 2023 under same ticker RVYL.
Split aims to lift bid price above $1.00 to comply with Nasdaq Listing Rule 5550(a)(2).
No fractional shares issued; rounding up to nearest whole share.
Stockholder approval not required under Nevada Revised Statutes Section 78.207.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

RYVYL Inc.: Approved a 1-for-10 reverse stock split and filed a Certificate of Change with the Nevada Secretary of State (effective 2023-09-06).

Change: charter amendment
Effective: 2023-09-06

Exact text from the filing

The board of directors (“Board”) of RYVYL Inc., a Nevada corporation (the “Company”), approved a reverse stock split of the Company’s authorized, issued and outstanding shares of common stock, par value $0.001 per share (“Common Stock”), at a ratio of 1-for-10 (the “Reverse Stock Split”).

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RYVYL Inc. filing history →

Source: SEC EDGAR

accession 0001185185-23-000943

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