Ryvyl regains compliance with Nasdaq continued listing rules

RYVYL has received confirmation from The Nasdaq Stock Market that it has regained compliance with Nasdaq’s listing requirements by satisfying the minimum stockholders’ equity requirement of $2.5 million under Nasdaq Continued Listing Rule 5550(b)(1). On November 29, 2023, RYVYL closed an exchange transaction as reported in a Current Report on Form 8-K filed with the Securities and Exchange Commission on December 4, 2023, which reduced the principal amount on a convertible note held by such large investor by $60,303,000. As a result of the Exchange RYVYL erased a stockholders’ deficit of approximately $24.7 million at September 30, 2023, and now satisfies the minimum $2.5 million stockholders’ equity listing requirement, bringing RYVYL back into compliance with all applicable requirements for continued listing on The Nasdaq Capital Market, as of December 13, 2023. In addition, Nasdaq has confirmed that the matter of the Company’s previous notice of non-compliance under Listing Rule 5550(a)(2), Market Value of Listed Securities Standard, has been closed.