Ryvyl bolsters capital structure resulting in debt reduction, significant improvement to cash flow, and increased shareholder equity in exchange agreement with convertible noteholder

$ 6 million initial debt reduction additional $16.7 million upon exchanges of convertible note into preferred stock $5 million second half 2023 cash flow improvement with interest write-off  san diego, ca, july 26, 2023 (globe newswire) -- ryvyl inc. (nasdaq: rvyl) ("ryvyl" or the "company"), a company that leverages the security of the blockchain and usd-pegged stablecoin technology with near-real-time attestation capabilities to conduct payment transactions, has agreed to an amendment of terms with the noteholder of the $100 million convertible note financing, originally entered into on november 5, 2021. under the terms of an exchange agreement, in two separate exchanges, an aggregate of $22.703 million of the existing note will potentially be exchanged into 15,000 shares of a new class of ryvyl convertible preferred stock, with an aggregate stated value of $15,000,000.
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