secwatch.observer — SEC 8-K summary
======================================

Issuer:     RYVYL Inc. (RVYL)
CIK:        0001419275
Form:       8-K
Filed at:   2023-11-28T23:59:59+00:00
Accession:  0001185185-23-001254
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1419275/000118518523001254/0001185185-23-001254-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1419275/000118518523001254/ryvyl20231127_8k.htm
  HTML page:      https://secwatch.observer/filing/0001185185-23-001254

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer