RYVYL Inc. (NASDAQ: RVYL) announced stockholder approval of all proposals at the 2025 Annual Meeting, including a reverse stock split and an increase in authorized shares.
The reverse split aims to remedy Nasdaq delisting due to non-compliance with bid price rule (Nasdaq Listing Rule 5550(a)(2)).
Stockholders also approved the election of directors and ratification of the Company's independent registered public accounting firm.
Stockholder Approval
All proposals, including the reverse stock split, were approved at the 2025 Annual Meeting.
Delisting Notice
Received a staff delisting determination letter from Nasdaq for non-compliance with bid price rule; reverse split aims to address the deficiency.
Compliance Steps
Steps taken to maintain Nasdaq listing, including addressing stockholder equity requirements and filing an appeal with Nasdaq Hearings Panel.
- Stockholders' approval indicates support for actions related to the Roundtable merger and compliance efforts.
- Implementation of the reverse split is expected to resolve Nasdaq listing issues through the appeal process.
- Company's actions ahead of the Roundtable merger have successfully maintained compliance with Nasdaq requirements.
RYVYL's proactive steps, including stockholder approval and compliance efforts, demonstrate commitment to maintaining its Nasdaq listing and progressing with the Roundtable merger.