RYVYL Announces Conversion for Remainder of 8% Senior Convertible Note; Successfully Completes Process of Delevering Balance Sheet

Core Viewpoint - RYVYL Inc. has successfully completed a debt-to-equity conversion, enhancing its balance sheet and reducing potential dilution for shareholders [1][2]. Group 1: Financial Restructuring - The securityholder of RYVYL's remaining 8% Senior Convertible Note converted the entire outstanding principal balance of $4.0 million and accrued interest of$136,000 into 7.1 million shares of common stock [1]. - The company redeemed its Series B Convertible Preferred Stock with a liquidation value of $53.1 million and$14.3 million of the Note for a payment of $13.0 million, avoiding over 90 million shares of potential dilution [2]. Group 2: Company Overview - RYVYL Inc. is an innovator in payment transaction solutions, focusing on electronic payment technology for various international markets [3]. - The company has developed applications that provide an end-to-end suite of financial products, emphasizing enhanced security, data privacy, and rapid settlement speeds [3].