Roundtable CEO James Heckman announced that merger partner, RYVYL Inc. (NASDAQ: RVYL), confirmed it received formal notice from NASDAQ on Friday, January 16. This notice confirmed that the company satisfied Listing Rule 5550(a)(2), surpassing the closing bid price requirement, and is no longer under review.
Following the completion of a recent reverse split, RVYL's share price surpassed the threshold sufficient to settle the compliance matter. This development occurred after Roundtable's investment satisfied the shareholder equity minimum requirement.
Regulatory Milestones Pave Way for Merger Completion
On the same day as the NASDAQ notice, in connection with the transaction, the companies jointly filed a Form S-4 registration statement with the SEC. This filing initiates the SEC review process, which then requires shareholder approval. The merger is anticipated to be consummated by late Q1.
These regulatory milestones clear the path for the companies to complete their previously announced merger and NASDAQ listing. This integration is intended to help Roundtable migrate major media brands to its Web3-native media operating system.
About Roundtable
Roundtable is a Web3 digital media SaaS platform. It provides decentralized publishing, commerce, data, syndication, network distribution, ad sales and operations, as well as community platforms and custom apps for major media and professional journalist brands.
RYVYL's Statement on Compliance and Merger Conditions
RYVYL stated that the Nasdaq compliance determination did not result in any changes to its capital structure or shareholder equity. The company added that all material conditions to the merger have been satisfied, aside from SEC approval of the Form S-4 and other customary closing conditions.
The companies expect to provide additional updates as the SEC review process continues.