---
schema_version: "secwatch.filing_event.v1"
accession: "0001185185-26-002057"
form_type: "8-K"
ticker: "RVYL"
cik: "0001419275"
company_name: "RYVYL Inc."
filed_at: "2026-05-21T20:05:41+00:00"
generated_at: "2026-05-21T22:26:27.263227+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# RTB Digital (formerly Ryvyl) closes merger; issues 4.4M shares, names Heckman CEO

## Summary
- 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.

## SEC filing metadata
- accession: 0001185185-26-002057
- form_type: 8-K
- ticker: RVYL
- cik: 0001419275
- company_name: RYVYL Inc.
- filed_at: 2026-05-21T20:05:41+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.9
- confidence: high
- sec_items: 2.01, 3.02, 5.01, 5.02, 5.03, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1419275/000118518526002057/0001185185-26-002057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1419275/000118518526002057/rtb8k052126.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001185185-26-002057
- JSON: https://secwatch.observer/filing/0001185185-26-002057.json
- Plain text: https://secwatch.observer/filing/0001185185-26-002057.txt

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