Ryvyl pays initial $13M tranche to securityholder

RYVYL (RVYL) has paid the initial tranche of $13M to a securityholder of the Company on January 27, 2025, which completed the following: Redeemed of all shares of the Company’s Series B Convertible Preferred Stock, for which the liquidation value was $53.1M. Partially repaid the 8% Senior Convertible Note held by the securityholder, reducing the outstanding principal from $18.3M to $4M, which is due on or before April 30, 2025, and also temporarily suspended the Company’s requirement to pay interest on the remaining principal balance of the Note, the securityholder’s right to convert the Note and certain restrictive covenants contained in the Note, all of which would be restored if the Company does not pay the second tranche of $4M by April 30, 2025.