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RYVYL Inc. (NASDAQ: RVYL) has initiated negotiations to restructure terms of its pre-funded asset sale of RYVYL EU subsidiary. The company has secured a standstill agreement until May 6, 2025, with an option to extend to May 27, 2025 for a $750,000 payment.
The original agreement, entered on January 24, 2025, involved a $15 million pre-funded asset sale with a 90-day closing period, which could have been terminated before April 23, 2025, upon payment of $16.5 million. During the standstill period, RYVYL EU subsidiary shares will remain in escrow while restructuring negotiations continue, though there is no guarantee of reaching a final deal.
RYVYL Inc. (NASDAQ: RVYL) reports significant progress in its European payments-as-a-service operations through RYVYL EU. The company has successfully:
- Onboarded over 10,000 accounts with its first digital banking partner
- Achieving an average of 1,000 new accounts daily
- Processed more than €10 million in transaction volume
The first contract is projected to exceed 50,000+ active accounts in 2025. The second partnership, with a digital banking platform, has completed API integrations ahead of schedule and aims to onboard 900,000 new customer accounts within 12 months.
However, RYVYL disclosed an ongoing financing agreement from January 24, 2025, structured as a pre-funded asset sale with RYVYL EU shares in escrow. The company intends to terminate this arrangement by paying $16.5 million before the closing period ends on April 23, 2025 (extendable to May 23, 2025 for $500,000).
RYVYL Inc. (NASDAQ: RVYL) reported its Q4 and full-year 2024 financial results, reiterating its 2025 guidance of $80-90 million in revenue with mid-40s percentage gross margin. International revenue reached $37.8 million in 2024, showing a 124% increase from 2023.
Q4 2024 highlights include: revenue of $14.1 million with $11.4 million from RYVYL EU, processing volume up 38.7% to $1.3 billion, and gross margin improvement to 38.2%. Full-year 2024 revenue was $56.0 million with a 40% gross margin.
The company recently secured two major Payments-as-a-Service (PaaS) contracts expected to bring nearly one million new customer accounts. RYVYL completed key balance sheet restructuring, including a Preferred Stock repurchase and Note repayment agreement, reducing potential dilution. The company serves approximately 1,500 business customers across 50 industries.
RYVYL Inc. (NASDAQ: RVYL) has secured two significant Payments-as-a-Service (PaaS) contracts through its subsidiary RYVYL EU, projecting to onboard nearly one million new accounts over the next 12 months.
The first contract with an international money service provider has already onboarded 1,000 accounts, with expectations to add 50,000+ more accounts in 2025. The second agreement, with a major digital banking platform operating in 180 countries, aims to onboard 900,000 accounts starting Q2 2025.
These contracts support RYVYL's 2025 revenue guidance of $80-90 million. The company expects to achieve positive adjusted EBITDA and operating cash flow in H2 2025. However, this guidance assumes retaining RYVYL EU subsidiary, which is currently subject to a pre-funded asset sale agreement ending April 23, 2025 (extendable to May 23, 2025). RYVYL intends to terminate this sale by paying $16.5 million.
RYVYL Inc. (NASDAQ: RVYL) has made a significant financial move by paying an initial $13.0 million tranche to a securityholder on January 27, 2025. This payment has accomplished two major objectives: the complete redemption of the Company's Series B Convertible Preferred Stock (which had a liquidation value of $53.1 million) and a substantial reduction of their 8% Senior Convertible Note from $18.3 million to $4.0 million.
The remaining $4.0 million is due by April 30, 2025. Until then, the company has temporarily suspended interest payments on the remaining balance, the securityholder's conversion rights, and certain restrictive covenants. These conditions will be reinstated if RYVYL fails to pay the second tranche by the deadline.
According to CFO George Oliva, these transactions significantly reduce conversion overhang and dilution risk to common stock, with the balance sheet restructuring expected to be highly anti-dilutive and beneficial to stockholders while lowering capital costs for 2025 growth investments.
RYVYL Inc. (NASDAQ: RVYL) has executed a Preferred Stock Repurchase and Note Repayment Agreement to retire all outstanding Series B Convertible Preferred Stock and settle an 8% Senior Convertible Note. The agreement includes a first tranche payment of $13.0 million due by January 27, 2025, with an option to extend to February 3, 2025, for an additional $50,000 fee.
Following the first tranche payment, the remaining $4.0 million balance of the Note will be due by April 30, 2025. Upon completion of the first tranche payment, certain restrictive covenants will be waived and interest accrual will cease, provided the remaining balance is paid on time. Until the first tranche payment is made, the Securityholder maintains conversion rights for both the Note and Preferred Stock into common stock.
RYVYL Inc. (NASDAQ: RVYL) has entered into a new non-binding Memorandum of Understanding (MOU) with a securityholder to retire debt instruments. The agreement includes:
- A first tranche payment of $13.0 million to redeem all Series B Convertible Preferred Stock and partially pay an 8% Senior Convertible Note, leaving a $4.0 million balance
- The remaining $4.0 million balance will have an advanced maturity date of April 30, 2025
The company must execute definitive agreements and pay the first tranche by January 27, 2025, or the MOU expires. RYVYL can extend this deadline to February 3, 2025, for an additional $50,000. Upon payment, certain restrictive covenants will be waived, contingent on paying the remaining balance by April 30, 2025. Until the first payment, the securityholder retains conversion rights for both instruments.
RYVYL Inc. has amended its non-binding Memorandum of Understanding (MOU) regarding the repayment of an 8% Senior Convertible Note and redemption of Series B Convertible Preferred Stock. The amendment extends the first tranche payment deadline of $12.8 million to November 29, 2024. While the company will make efforts to secure the necessary financing, there is no guarantee of success in raising the funds or finalizing the Definitive Agreements with the investor, as the MOU is non-binding.
RYVYL Inc. (NASDAQ: RVYL) reported Q3 2024 financial results with revenue of $12.6 million, down from $17.5 million in Q3 2023. International revenue grew 96% year-over-year, with processing volume increasing 31% to $1,123 million. The company's gross margin slightly improved to 38.5%. Operating expenses decreased to $7.3 million from $9.0 million in Q3 2023. RYVYL updated its 2024 guidance, projecting full-year revenue between $56-60 million. The company also signed an MOU to restructure its balance sheet, addressing $19.0 million in convertible notes and $53.5 million in preferred stock.
RYVYL Inc. (NASDAQ: RVYL) has signed a non-binding MOU with an investor to retire debt obligations. The agreement covers the full repayment of an 8% Senior Convertible Note ($19.0M outstanding) and redemption of Series B Convertible Preferred Stock ($53.5M liquidation value) for a total consideration of $16.5M. The payment structure includes a first tranche of $12.8M due by November 22, 2024, and a remaining $3.7M note payment due January 31, 2025. The company plans to fund this through new equity, debt, or convertible debt financings, though success is not guaranteed.
