RYVYL repurchases Preferred Stock and repays Senior Convertible Note, aiming to strengthen financial position.

From GlobeNewswire: 2025-01-24 07:05:00

RYVYL Inc. has executed a Preferred Stock Repurchase and Note Repayment Agreement for the full repayment and termination of an 8% Senior Convertible Note and the redemption of all shares of the Company’s Series B Convertible Preferred Stock. The agreement includes a first tranche payment of $13.0 million for the redemption of Preferred Stock and advancing the maturity date for the remaining balance due under the Note to April 30, 2025. The Company must pay the first tranche payment by January 27, 2025, with an option to extend to February 3, 2025, for an additional $50,000. Failure to pay the remaining balance by April 30, 2025, will result in restoration of the Note’s original terms.

RYVYL Inc. is known for empowering innovative payment transaction solutions globally. The company leverages electronic payment technology for diverse international markets, offering turnkey financial products with enhanced security and data privacy. The platform enables rapid settlement and immutable transactional records for partners, merchants, and consumers worldwide. The company’s recent agreement for Preferred Stock Repurchase and Note Repayment aims to strengthen its financial position and support future growth. Forward-looking statements by the company highlight expectations for timely payments, benefits to stockholders, and revenue projections from licenses.



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