Ryvyl signs mou with investor to retire 8% senior convertible note and series b convertible preferred stock

San diego, ca, nov. 11, 2024 (globe newswire) -- ryvyl inc. (nasdaq: rvyl) ("ryvyl" or the "company"), a leading innovator of payment transaction solutions leveraging proprietary blockchain ledger and electronic payment technology for diverse international markets, has signed a non-binding memorandum of understanding (the “mou”) with the investor (the “investor”) setting forth the terms agreed to by the company and the investor for the full repayment and termination of an 8% senior convertible note (the “note) and the redemption of all shares of the company's series b convertible preferred stock (the “preferred stock”) held by the investor. as of october 31, 2024, the outstanding note principal was $19.0 million, and the liquidation value of the preferred stock was $53.5 million.
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