05:36 PM EDT, 04/15/2024 (MT Newswires) -- Ryvyl ( RVYL ) said late Monday it has launched a public offering of an undisclosed number of its shares.

The company plans to grant a 45-day overallotment option to its underwriter to acquire up to an additional 15% of the number of shares sold in the offering. Joseph Gunnar is the book-running manager.

Ryvyl ( RVYL ) said it intends to use the net proceeds for working capital and general corporate purposes.

The company's shares were down about 38% in after-hours activity.