RYVYL Announces Completion Of Initial Steps Under The Exchange Agreement Reducing Debt And Increasing Shareholder Equity And Cash Flow
Portfolio Pulse from Happy Mohamed
RYVYL Inc. (NASDAQ:RVYL) has completed the first of two exchange transactions under an Exchange Agreement, reducing its debt and increasing shareholder equity and cash flow. The company issued 6,000 shares of Series A Convertible Preferred Stock to an existing noteholder in exchange for $4,297,000 of the outstanding principal balance of the Note and $1,703,000 of accrued interest. The remaining $16,703,000 in principal is to be exchanged for 9,000 shares of Series A Convertible Preferred Stock at an additional closing, subject to certain conditions.
August 04, 2023 | 1:12 pm
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RYVYL Inc. has reduced its debt and increased shareholder equity and cash flow through an exchange transaction. This could potentially improve the company's financial health and make it more attractive to investors.
The completion of the first of two exchange transactions under the Exchange Agreement has allowed RYVYL Inc. to reduce its debt and increase shareholder equity and cash flow. This is a positive development for the company as it improves its financial health, which could potentially make it more attractive to investors and positively impact its stock price in the short term.
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