RYVYL (NASDAQ: RVYL) leverages the security of the blockchain and USD-pegged stablecoin technology with near-real-time attestation capabilities to conduct payment transactions. The company today announced it has agreed to an amendment of terms with the noteholder of the $100 million convertible note financing, originally entered into on Nov. 5, 2021. Under the terms of an exchange agreement, in two separate exchanges, an aggregate of $22.703 million of the existing note will potentially be exchanged into 15,000 shares of a new class of RYVYL convertible preferred stock, with an aggregate stated value of $15,000,000. “This a major win for all RYVYL stakeholders, once again demonstrating the strength of the relationship with our noteholder as well as its belief in RYVYL’s mission and the proposed Coyni spin-off,” said RYVYL Chairman Ben Errez. “We believe that the exchange should significantly bolster and revitalize our capital structure with the added benefit of mitigating NASDAQ compliance deficiencies risk on both bid price compliance and future shareholder equity requirements. We are grateful to have this institutional level commitment to our global growth capabilities.”
To view the full press release, visit https://ibn.fm/tjgNy
About RYVYL Inc.
RYVYL was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business and peer-to-peer payment transactions around the globe. By leveraging unique blockchain security and USD-pegged stablecoin technology with near real-time attestation capabilities, RYVYL is reinventing the future of financial transactions using its coyni(R) stablecoin platform as a transactional foundation. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity theft protection, and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants and consumers around the globe. For more information, visit www.RYVYL.com
NOTE TO INVESTORS: The latest news and updates relating to RVYL are available in the company’s newsroom at https://ibn.fm/RVYL
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