RYVYL Signs MOU with Investor to Retire 8% Senior Convertible Note and Series B Convertible Preferred Stock
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RYVYL Inc. has signed a Memorandum of Understanding with an investor to retire its 8% Senior Convertible Note and Series B Convertible Preferred Stock, valued at $19 million and $53.5 million respectively.
November 11, 2024 | 12:15 pm
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RYVYL Inc. has signed an MOU to retire its 8% Senior Convertible Note and Series B Convertible Preferred Stock, potentially improving its financial position by eliminating $19 million in debt and $53.5 million in preferred stock obligations.
The retirement of the convertible note and preferred stock reduces RYVYL's financial obligations, which could improve its balance sheet and investor perception. This action is likely to have a positive impact on the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100