---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-26-000092"
form_type: "8-K"
ticker: "RVYL"
cik: "0001419275"
company_name: "RYVYL Inc."
filed_at: "2026-01-09T23:59:59+00:00"
generated_at: "2026-05-16T11:02:47.752901+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# RYVYL merger partner RTB secures $10M convertible note from UTXO Management; converts at $200M valuation

## Summary
- RTB Digital executed binding term sheet with UTXO Management for $10M convertible note, bringing total capital raised to $43M.
- Note automatically converts into RYVYL equity at pre-money valuation of $200M upon merger close; proceeds held in Bitcoin.
- Warrants with 20% coverage, exercisable at conversion price, expire 365 days; price protection may issue additional warrants.
- 100% of shares issued in exchange will be locked up for 12 months; company has right of first refusal on sales after release.
- Exchange ratio for existing RYVYL stockholders unaffected by the additional investment, pending merger approval.

## SEC filing metadata
- accession: 0001185185-26-000092
- form_type: 8-K
- ticker: RVYL
- cik: 0001419275
- company_name: RYVYL Inc.
- filed_at: 2026-01-09T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1419275/000118518526000092/0001185185-26-000092-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1419275/000118518526000092/rvyl8k010826.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-26-000092
- JSON: https://secwatch.observer/filing/0001185185-26-000092.json
- Plain text: https://secwatch.observer/filing/0001185185-26-000092.txt

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