RYVYL (NASDAQ: RVYL), a leading innovator of payment transaction solutions leveraging proprietary blockchain ledger and electronic payment technology for the diverse international markets, has entered into an agreement to extend the repayment date on an existing note. According to the announcement, the agreement is with a current noteholder of an 8% senior convertible note; the repayment date on the note was extended to April 5, 2026. In the agreement, the noteholder agrees to extend the repayment date one year, and in return, the company will pay $80,000 in cash now as an advance payment of the next interest payment due and payable under the note, which is scheduled for Oct. 1, 2024. The announcement noted that remaining terms of the note are unchanged, including the total in principal that remains outstanding — $19.1 million — which the company intends to pay in full on or before the new due date. “Extending our debt repayment obligation demonstrates the continued confidence and support of our noteholder and strengthens our financial flexibility as we continue driving growth in multiple verticals across diverse international markets,” said RYVYL Chairman Ben Errez in the press release. “Prepaying a portion of the scheduled interest payment underscores our commitment to maintaining strong relationships with our financial partners and our focus on investing in the Company’s long-term success.”
To view the full press release, visit https://ibn.fm/zVSyV
About RYVYL Inc.
RYVYL was born from a passion for empowering a new way to conduct business-to-business, consumer-to-business and peer-to-peer payment transactions around the globe. By leveraging proprietary blockchain ledger and electronic token technology for the diverse international markets, RYVYL is a leading innovator of payment transaction solutions reinventing the future of financial transactions. Since its founding as GreenBox POS in 2017 in San Diego, RYVYL has developed applications enabling an end-to-end suite of turnkey financial products with enhanced security and data privacy, world-class identity-theft protection and rapid speed to settlement. As a result, the platform can log immense volumes of immutable transactional records at the speed of the internet for first-tier partners, merchants and consumers around the globe. For more information about the company, please visit www.RYVYL.com.
NOTE TO INVESTORS: The latest news and updates relating to RVYL are available in the company’s newsroom at https://ibn.fm/RVYL
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