---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-23-001254"
form_type: "8-K"
ticker: "RVYL"
cik: "0001419275"
company_name: "RYVYL Inc."
filed_at: "2023-11-28T23:59:59+00:00"
generated_at: "2026-06-07T20:57:44.983352+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# RYVYL exchanges $60.3M note & preferred for Series B convertible preferred; $3M cash paid

## Summary
- Exchanged $60.3M of note principal, all Series A Preferred, and rights to Unissued Series A for 55,000 Series B Preferred shares.
- Series B has $1,000 stated value; convertible at fixed $3.11/share or alternate conversion price (floor $0.62).
- Company to pay investor $3M cash; investor waives interest through July 2024 and forbears note repayment until April 5, 2025.
- Conversion limited to 19.99% of outstanding common until shareholder approval obtained per Nasdaq rules.

## SEC filing metadata
- accession: 0001185185-23-001254
- form_type: 8-K
- ticker: RVYL
- cik: 0001419275
- company_name: RYVYL Inc.
- filed_at: 2023-11-28T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1419275/000118518523001254/0001185185-23-001254-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1419275/000118518523001254/ryvyl20231127_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-23-001254
- JSON: https://secwatch.observer/filing/0001185185-23-001254.json
- Plain text: https://secwatch.observer/filing/0001185185-23-001254.txt

## Key facts
- Material Agreements
  RYVYL Inc. entered into Second Exchange Agreement with an institutional investor valued at $60,303,000 of the outstanding principal under the Note for 55,000 shares of Series B Preferred Stoc (effective 2023-11-27).
  - Action: entry
  - Counterparty: an institutional investor
  - Value: $60,303,000 of the outstanding principal under the Note for 55,000 shares of Series B Preferred Stoc
  - Effective: 2023-11-27
  source text: On November 27, 2023, the Company entered into an Exchange Agreement (the “Second Exchange Agreement”) with the Investor.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1419275/000118518523001254/0001185185-23-001254-index.htm

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