Brief: Ryvyl Agreed To An Amendment Of Terms With Noteholder Of $100 Million Convertible Note Financing

RTB Digital

26/07/2023 19:00

July 26 (Reuters) - Ryvyl Inc  RVYL.O :
    * RYVYL BOLSTERS CAPITAL STRUCTURE RESULTING IN
DEBT REDUCTION,
SIGNIFICANT IMPROVEMENT TO CASH FLOW, AND INCREASED SHAREHOLDER
EQUITY IN EXCHANGE AGREEMENT WITH CONVERTIBLE NOTEHOLDER
    * RYVYL INC- HAS AGREED TO AN AMENDMENT OF TERMS WITH
NOTEHOLDER
OF $100 MILLION CONVERTIBLE NOTE FINANCING, ORIGINALLY ENTERED
INTO ON NOVEMBER 5, 2021
    * RYVYL INC- $6 MILLION INITIAL DEBT REDUCTION
    * RYVYL INC- $5 MILLION SECOND HALF 2023 CASH FLOW
IMPROVEMENT
WITH INTEREST WRITE-OFF
    * RYVYL INC - $6MILLION INITIAL DEBT REDUCTION
    * RYVYL INC- ADDITIONAL $16.7 MILLION UPON EXCHANGES OF
CONVERTIBLE NOTE INTO PREFERRED STOCK