Ryvyl engages Kingswood Capital Partners as placement agent for spin-off

RYVYL announced the engagement of Kingswood, a division of Kingswood Capital Partners as its placement agent and advisor in connection with the planned spin-off of coyni, a wholly owned subsidiary of RYVYL, and subsequent public offering. The planned offering of approximately $40 million with a NASDAQ uplisting is based on an estimated valuation of $200 million for Coyni’s assets and merging of other revenue sources. The Company has not obtained an independent third-party valuation of coyni. The Company is evaluating additional details regarding the spin-off and offering and will provide further information when available. RYVYL also completed the acquisition of 97.7% ownership in Logicquest, a shell company, for the purchase price of $225,000. The Company intends to transfer the assets of coyni to Logicquest and subsequently spin-off Logicquest. Upon completion of the spin-off and public offering, RYVYL intends to pay a special equity dividend to shareholders. There can be no assurance as to the timing or whether the Company will be able to consummate the spin-off of Logicquest.