RYVYL Inc. Files 8-K for Material Definitive Agreement

TL;DR

RYVYL Inc. signed a big deal, filing an 8-K today.

AI Summary

RYVYL Inc. announced on May 17, 2024, that it entered into a Material Definitive Agreement. The company, formerly known as GreenBox POS, is incorporated in Nevada and headquartered in San Diego, California. This filing is a current report under the Securities Exchange Act of 1934.

Why It Matters

This filing indicates a significant new agreement for RYVYL Inc., which could impact its business operations and financial performance.

Risk Assessment

Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood.

Key Numbers

• 001-34294 — SEC File Number (Identifies the company's filing history with the SEC.)
• 22-3962936 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• RYVYL Inc. (company) — Registrant
• GreenBox POS (company) — Former company name
• May 17, 2024 (date) — Date of earliest event reported
• 3131 Camino Del Rio North, Suite 1400 (location) — Principal Executive Offices Address
• San Diego, CA (location) — Principal Executive Offices City and State

FAQ

Key Financial Figures

• $0.001 — ch Registered Common Stock, par value $0.001 per share RVYL The Nasdaq Stock Mar
• $100 million — "Investor"), which previously provided $100 million in convertible note financing to the Co
• $80,000 — Company's cash payment in the amount of $80,000 as an advance payment of a portion of t
• $380,000 — est payment, in the estimated amount of $380,000, due and payable under the Note on Octo

Filing Documents

• ryvyl20240517_8k.htm (8-K) — 29KB
• ex_676340.htm (EX-10.1) — 39KB
• ex_676341.htm (EX-99.1) — 8KB
• ex_676341img001.jpg (GRAPHIC) — 2KB
• 0001185185-24-000558.txt ( ) — 227KB
• rvyl-20240517.xsd (EX-101.SCH) — 3KB
• rvyl-20240517_def.xml (EX-101.DEF) — 10KB
• rvyl-20240517_lab.xml (EX-101.LAB) — 19KB
• rvyl-20240517_pre.xml (EX-101.PRE) — 11KB
• ryvyl20240517_8k_htm.xml (XML) — 3KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement As previously reported in a Current Report on Form 8-K filed by RYVYL Inc., a Nevada corporation (the "Company") with the Securities and Exchange Commission on November 28, 2023, the Company entered into an Exchange Agreement (the "Exchange Agreement") with an institutional investor (the "Investor"), which previously provided $100 million in convertible note financing to the Company, evidenced by an 8% Convertible Note Due 2023, issued to the Investor on November 8, 2021 (the "Note"), which Note was originally due on November 5, 2023, and which maturity date was extended to November 5, 2024, pursuant to a Restructuring Agreement, dated as of August 16, 2022, and, pursuant to the Exchange Agreement, the Investor agreed to forbear from requiring the repayment of the Note (to the extent such repayment obligation arises solely as a result of the occurrence of the maturity date and not with respect to any event of default or redemption rights in the Note or pursuant to the Indenture (as such term is defined in the Exchange Agreement)) during the period commencing on November 5, 2024 through, and including, April 5, 2025. On May 17, 2024, the Company entered into a Forbearance Agreement (the "Forbearance Agreement") with the Investor, pursuant to which the Investor, in consideration for the Company's cash payment in the amount of $80,000 as an advance payment of a portion of the next interest payment, in the estimated amount of $380,000, due and payable under the Note on October 1, 2024, agreed to further forbear from requiring the repayment of the Note (to the extent such repayment obligation arises solely as a result of the occurrence of the maturity date and not with respect to any event of default or redemption rights in the Note or pursuant to the Indenture) during the period commencing on April 5, 2025 through, and including, April 5, 2026. The description of the Forbearance Agreement set forth herein is quali

01 Other Events

Item 8.01 Other Events. On May 20, 2024, the Company issued a press release (the "Press Release") announcing its entrance into the Forbearance Agreement. The Press Release is attached hereto as Exhibit 99.1 and incorporated herein by reference.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Document 10.1* Form of Forbearance Agreement 99.1* Press Release, dated as of May 20, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). * Filed herewith Certain of the exhibits and schedules to this Exhibit have been omitted in accordance with Regulation S-K Item 601(a)(5). The Registrant agrees to furnish a copy of all omitted exhibits and schedules to the SEC upon its request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned hereunto duly authorized. RYVYL, Inc. Date: May 20, 2024 By: /s/ Fredi Nisan Fredi Nisan Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR