RYVYL Signs MOU with Investor to Retire 8% Senior Convertible Note and Series B Convertible Preferred Stock
Ryvyl Inc. (RVYL)
Company Research
Source: GlobeNewswire
SAN DIEGO, CA, Nov. 11, 2024 (GLOBE NEWSWIRE) -- RYVYL Inc. (NASDAQ: RVYL) ("RYVYL" or the "Company"), a leading innovator of payment transaction solutions leveraging proprietary blockchain ledger and electronic payment technology for diverse international markets, has signed a non-binding Memorandum of Understanding (the “MOU”) with the investor (the “Investor”) setting forth the terms agreed to by the Company and the Investor for the full repayment and termination of an 8% Senior Convertible Note (the “Note) and the redemption of all shares of the Company’s Series B Convertible Preferred Stock (the “Preferred Stock”) held by the Investor. As of October 31, 2024, the outstanding Note principal was $19.0 million, and the liquidation value of the Preferred Stock was $53.5 million. Under the terms of the MOU, the Company has agreed to pay total consideration of $16.5 million in full repayment of the Note and the redemption of all of the shares of Preferred Stock, as follows: $12.8 m
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RVYL
News
- RYVYL Amends MOU to Adjust Timing of First Tranche Payment to Investor to Retire 8% Senior Convertible Note and Series B Convertible Preferred Stock [Yahoo! Finance]Yahoo! Finance
- RYVYL Amends MOU to Adjust Timing of First Tranche Payment to Investor to Retire 8% Senior Convertible Note and Series B Convertible Preferred StockGlobeNewswire
- RYVYL Reports Q3 2024 ResultsGlobeNewswire
- RYVYL to Announce Third Quarter 2024 Financial Results on Thursday, November 14, 2024 [Yahoo! Finance]Yahoo! Finance
- RYVYL to Announce Third Quarter 2024 Financial Results on Thursday, November 14, 2024GlobeNewswire
RVYL
Earnings
- 11/14/24 - Miss
RVYL
Sec Filings
- 11/18/24 - Form 4
- 11/18/24 - Form 4
- 11/18/24 - Form 4
- RVYL's page on the SEC website