The developments move Roundtable closer to completing its merger with RYVYL and deploying its Web3 media SaaS platform at scale.
Roundtable CEO James Heckman announced merger partner, RYVYL Inc. (NASDAQ: RVYL), confirmed it received formal notice from NASDAQ, Friday, January 16, confirming the company satisfied Listing Rule 5550(a)(2), surpassing closing bid price requirement and are no longer under review.
After completing the recent reverse spilt, RVYL share price surpassed the threshold sufficient to settle the compliance matter, after Roundtable’s investment satisfied shareholder equity minimum requirement.
On the same day as NASDAQ notice, in connection with the transaction, the companies jointly filed a Form S-4 registration statement with SEC. The filing initiates the SEC review process, which then requires shareholder approval, anticipated to consummate late Q1.
These regulatory milestones clear the path for the companies to complete their previously announced merger and NASDAQ listing; which is intended to help Roundtable migrate major media brands to its Web3-native media operating system.
Roundtable is a Web3 digital media SaaS platform, providing 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 said 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 said they expect to provide additional updates as the SEC review process continues.