RYVYL exchanges $60.3M of convertible note for Series B Preferred shares and $3M cash

RYVYL Inc.

Issued 55,000 Series B Convertible Preferred shares and paid $3M cash to institutional investor.
Received in exchange 6,000 Series A Convertible Preferred shares and $60.303M principal reduction on 8% Convertible Note Due 2023.
Series B Preferred convertible at $3.11 per share; ranks senior to common stock.
Exchange closed Nov 29, 2023; exempt from registration under Section 3(a)(9) of Securities Act.

item 1.01 item 5.03 item 9.01

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.: Filed Certificate of Designations for Series B Convertible Preferred Stock (effective 2023-11-28).

Change: charter amendment
Effective: 2023-11-28

Exact text from the filing

on November 28, 2023, the Company filed with the Secretary of State of the State of Nevada a Certificate of Designations of Rights and Preferences of Series B Convertible Preferred Stock

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

RYVYL Inc. entered into Exchange Agreement with an institutional investor (effective 2023-11-27).

Action: entry
Counterparty: an institutional investor
Effective: 2023-11-27

Exact text from the filing

on November 27, 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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RYVYL Inc. filing history →

Source: SEC EDGAR

accession 0001185185-23-001274

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