8-K
filed May 21, 2026, 4:05 PM ET
ticker RVYL
CIK 0001419275
M&A
confidence high
sentiment neutral
materiality 0.90
RYVYL Inc. (RVYL): M&A transaction — RTB Digital (formerly Ryvyl) closes merger; issues 4.4M shares, names Heckman CEO
RYVYL Inc.
- Merger closed May 12, 2026; RTB survives as wholly-owned subsidiary of Ryvyl (now RTB Digital).
- Issued 4,384,504 shares to former RTB shareholders; 5,774,711 shares outstanding post-merger.
- Board reconstituted to 7 members; James Heckman (CEO), Aly Madhavji (CFO), Walton Comer (Chairman).
- Officers: James Heckman (CEO), Aly Madhavji (CFO), George Oliva (CAO), William Sornsin (COO).
- Company renamed RTB Digital, Inc.; trading symbol changed to RTB on Nasdaq.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Gene Jones resigned as Director at RYVYL Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
effective May 15, 2026, Messrs. Gene Jones and Tod Browndorf, resigned from the Board and any respective committees of the Board to which they belonged, which resignations were not the result of any disagreements with the Company relating to the Company’s operations, policies or practices .
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
George Oliva resigned as Director at RYVYL Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
effective May 15, 2026, Mr. George Oliva resigned from the Board and any committees of the Board to which he belonged, which resignation was not the result of any disagreements with the Company relating to the Company’s operations, policies or practices; however Mr. Oliva continued as an officer of the Company as Chief Accounting Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
James Heckman was appointed as Chief Executive Officer at RYVYL Inc..
- Action
- appointed
- Role
- Chief Executive Officer
Exact text from the filing
As of May 21, 2026, the Board appointed James Heckman as the Chief Executive Officer, Aly Madhavji as the Chief Financial Officer, George Oliva as the Chief Accounting Officer, and William Sornsin as the Chief Operating Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Aly Madhavji was appointed as Chief Financial Officer at RYVYL Inc..
- Action
- appointed
- Role
- Chief Financial Officer
Exact text from the filing
As of May 21, 2026, the Board appointed James Heckman as the Chief Executive Officer, Aly Madhavji as the Chief Financial Officer, George Oliva as the Chief Accounting Officer, and William Sornsin as the Chief Operating Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Tod Browndorf resigned as Director at RYVYL Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
effective May 15, 2026, Messrs. Gene Jones and Tod Browndorf, resigned from the Board and any respective committees of the Board to which they belonged, which resignations were not the result of any disagreements with the Company relating to the Company’s operations, policies or practices .
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
George Oliva was appointed as Chief Accounting Officer at RYVYL Inc..
- Action
- appointed
- Role
- Chief Accounting Officer
Exact text from the filing
As of May 21, 2026, the Board appointed James Heckman as the Chief Executive Officer, Aly Madhavji as the Chief Financial Officer, George Oliva as the Chief Accounting Officer, and William Sornsin as the Chief Operating Officer.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
William Sornsin was appointed as Chief Operating Officer at RYVYL Inc..
- Action
- appointed
- Role
- Chief Operating Officer
Exact text from the filing
As of May 21, 2026, the Board appointed James Heckman as the Chief Executive Officer, Aly Madhavji as the Chief Financial Officer, George Oliva as the Chief Accounting Officer, and William Sornsin as the Chief Operating Officer.
View on SEC.gov
M&A Transactions
SEC 8-K Item 2.01/5.01
confidence 0.9
RYVYL Inc. underwent a change of control involving RTB Digital, Inc. (closed 2026-05-12).
- Action
- change of control
- Counterparty
- RTB Digital, Inc.
- Closing
- 2026-05-12
Exact text from the filing
On May 12, 2026 (the “Closing Date”), as contemplated by the Merger Agreement, following the satisfaction of the closing conditions set forth in the Merger Agreement, the Company completed its business combination with RTB (the “Merger”).
View on SEC.gov
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