Core Viewpoint - RYVYL Inc. has entered into a Preferred Stock Repurchase and Note Repayment Agreement to fully repay an 8% Senior Convertible Note and redeem all shares of its Series B Convertible Preferred Stock, indicating a strategic move to strengthen its financial position and reduce outstanding liabilities [1]. Group 1: Financial Agreement Details - The Company is required to make a first tranche payment of 50,000 [1]. - Following the first tranche payment, the remaining balance of the Note will be $4.0 million, with a maturity date advanced to April 30, 2025 [5]. - If the Company fails to pay the remaining balance by the due date, the Note will revert to its original terms, and interest will accrue again [5]. Group 2: Company Overview - RYVYL Inc. is a leading innovator in payment transaction solutions, focusing on electronic payment technology for various international markets [3]. - The Company has developed an end-to-end suite of financial products that emphasize security, data privacy, and rapid transaction settlement [3]. - Since its founding in 2017, RYVYL has aimed to transform business-to-business, consumer-to-business, and peer-to-peer payment transactions globally [3].
RYVYL Executes Repurchase and Repayment Agreement with Securityholder to Retire All Outstanding Series B Convertible Preferred Stock and Outstanding Balance of 8% Senior Convertible Note