RYVYL Pays Initial $13.0 Million Tranche to Securityholder to Retire All Outstanding Series B Convertible Preferred Stock and Majority of 8% Senior Convertible Note

Core Viewpoint - RYVYL Inc. has completed a significant financial restructuring by paying an initial tranche of $13.0 million to a securityholder, which is expected to reduce dilution risk and lower the overall cost of capital for the company [1][4]. Group 1: Financial Transactions - The company redeemed all shares of its Series B Convertible Preferred Stock, with a liquidation value of$53.1 million [4]. - The company partially repaid the 8% Senior Convertible Note, reducing the outstanding principal from $18.3 million to$4.0 million, which is due on or before April 30, 2025 [4]. - The company has temporarily suspended certain obligations related to the Note, including interest payments and the securityholder's right to convert the Note, which will be restored if the second tranche of $4.0 million is not paid by the due date [4]. Group 2: Company Overview - RYVYL Inc. is a leading innovator in payment transaction solutions, focusing on electronic payment technology for diverse international markets [2]. - The company was founded in 2017 as GreenBox POS and has developed a suite of financial products that emphasize security, data privacy, and rapid transaction settlement [2]. - RYVYL's platform is capable of logging large volumes of immutable transactional records at high speeds, catering to first-tier partners, merchants, and consumers globally [2].