Ryvyl Inc. (NASDAQ: RVYL) confirmed it had met Nasdaq’s $1.00 bid‑price requirement for ten consecutive business days from January 2 to January 15, 2026, after a 1‑for‑35 reverse split on January 1 that lifted the share price above the threshold. The company’s compliance status was announced on January 20, 2026, ending a delisting risk that had lingered since October.
On the same day, Ryvyl filed a Form S‑4 registration statement with the SEC to advance its announced merger with RTB Digital, Inc. (Roundtable), a Web 3 digital‑media SaaS platform. The filing, dated January 15, 2026, signals that all material conditions to the transaction have been satisfied except for SEC approval of the registration and customary closing conditions.
The merger represents a strategic pivot from Ryvyl’s legacy payment‑processing business to a technology‑driven media and advertising model. By combining Ryvyl’s blockchain‑enabled fintech infrastructure with Roundtable’s decentralized publishing and commerce capabilities, the combined company aims to create new revenue streams and broaden its market reach. The deal is structured as an all‑stock transaction in which RTB Digital shareholders will receive approximately 84.85 % of the combined entity’s fully diluted common stock, implying significant dilution for existing Ryvyl shareholders.
Ryvyl’s financial performance has been under pressure, with a negative free‑cash‑flow and a rapid burn rate. In Q3 2025, the company posted an EPS of –$2.45 versus an analyst estimate of –$4.55, a better‑than‑expected result driven by tighter cost controls that offset a $2.79 million revenue shortfall against a $3 million estimate. The reverse split and the merger filing are viewed as steps to stabilize the balance sheet and unlock value for shareholders.
Market reaction to the announcement was positive, with analysts noting that the dual news of regained compliance and merger progress removed a key risk factor and signaled forward momentum. The combined entity is expected to close in the third quarter of 2026, after the SEC approves the S‑4 and customary closing conditions are met.
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