{"id":43016,"date":"2026-04-06T16:53:16","date_gmt":"2026-04-06T16:53:16","guid":{"rendered":"https:\/\/foreignnewstoday.com\/?p=43016"},"modified":"2026-04-06T16:53:16","modified_gmt":"2026-04-06T16:53:16","slug":"roundtable-ceo-james-heckman-details-nasdaq-strategy-long-term-focus-capitalization-structure-and-lock-up","status":"publish","type":"post","link":"https:\/\/foreignnewstoday.com\/?p=43016","title":{"rendered":"Roundtable CEO James Heckman Details NASDAQ Strategy, Long-Term Focus, Capitalization Structure, and Lock-Up"},"content":{"rendered":"<p><br \/>\n<\/p>\n<div>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Roundtable (\u201cRTB\u201d) CEO James Heckman detailed the Company\u2019s post-merger capitalization strategy following the April 1 shareholder approval of its merger with RYVYL Inc. (NASDAQ: RVYL). The merger was approved by approximately 99% of votes cast by shareholders. This communication provides additional detail for shareholders, following last week\u2019s meeting announcement, including details of the 85% capitalization table lock up.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Heckman outlined the equity structure designed to balance Nasdaq listing liquidity requirements with a restricted share supply and long-term value creation, describing the supply as \u201cwell structured\u201d for both short-term and long-term public company shareholders.<!-- HTML_TAG_END --><\/p>\n<blockquote class=\"neo-blockquote yf-1kwbn3\">\n<p class=\"yf-1kwbn3\"><!-- HTML_TAG_START -->Heckman stated, <strong>\u201cour founders, executives and strategic investors are committed to investing the time and resources necessary to fulfill our vision to its fullest potential.\u201d<\/strong><!-- HTML_TAG_END --><\/p>\n<\/blockquote>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START --><strong><a href=\"https:\/\/finance.yahoo.com\/news\/roundtable-ceo-james-heckman-announces-195512873.html\" data-ylk=\"slk:Related: Roundtable CEO James Heckman Announces New CFO Aly Madhavji;elm:context_link;itc:0;sec:content-canvas;outcm:mb_qualified_link;_E:mb_qualified_link;ct:story;\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Related&quot;}\" class=\"link  yahoo-link\">Related: Roundtable CEO James Heckman Announces New CFO Aly Madhavji<\/a><\/strong><!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->The combined entity is expected to have approximately 13.5 million total shares outstanding. Of those, approximately 2 million shares are expected to be available for public trading, with the remaining 11.5 million shares, representing approximately 85% of the total outstanding shares, subject to a one year lock up provision. Prior to the merger, RYVYL Inc. effected a reverse stock split to secure compliance with Nasdaq listing requirements, while Roundtable invested $6 million into RYVYL to ensure shareholder equity compliance.<!-- HTML_TAG_END --><\/p>\n<div class=\"table-container yf-t4vsm6\">\n<div class=\"pcrstb-wrap\"><table class=\"article-table yf-t4vsm6\">\n<thead>\n<tr>\n<th>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Equity Holder<!-- HTML_TAG_END --><\/p>\n<\/th>\n<th>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Shares<!-- HTML_TAG_END --><\/p>\n<\/th>\n<th>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Detail<!-- HTML_TAG_END --><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td data-testid=\"cell-0-0\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Total Outstanding<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-0-1\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->13,500,000<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-0-2\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Post Merger, RVYL + RTB<!-- HTML_TAG_END --><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td data-testid=\"cell-1-0\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Free Trading<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-1-1\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->~2,000,000<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-1-2\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Post Merger, RVYL + RTB (NASDAQ Liquidity)<!-- HTML_TAG_END --><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td data-testid=\"cell-2-0\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Locked-up Shares<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-2-1\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->11,500,000<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-2-2\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->1 yr, Founders\/Execs, Major Investors<!-- HTML_TAG_END --><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td data-testid=\"cell-3-0\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->% locked-up<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-3-1\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->85%<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-3-2\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Post lock, slow release over second year, staggered<!-- HTML_TAG_END --><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div><\/div>\n<blockquote class=\"neo-blockquote yf-1kwbn3\">\n<p class=\"yf-1kwbn3\"><!-- HTML_TAG_START --><strong>\u201cThe structure of the merger is not materially dilutive to the free trading supply; rather, we are restricting supply,\u201d said James Heckman, describing the outcome as a \u201cbest of worlds\u201d structure for shareholders, providing sufficient scale and liquidity, while reducing the trigger of filing requirements.<\/strong><!-- HTML_TAG_END --><\/p>\n<\/blockquote>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Heckman outlined three core components of the equity strategy:<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START --><strong>Nasdaq Liquidity Compliance.<\/strong> Approximately 2.0 million share public float designed to meet Nasdaq listing requirements, comprising approximately 1.25 million existing RYVYL Inc. shares and approximately 750,000 shares issued in connection with the Roundtable merger.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START --><strong>Investor Positioning Without Filing Constraints. <\/strong>The capitalization structure is designed to facilitate meaningful ownership accumulation after adding in the outstanding shares of RTB.<!-- HTML_TAG_END --><\/p>\n<\/p><\/div>\n<div style=\"display: none\" data-testid=\"read-more\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START --><strong>Supply Control via Lock-Up Commitment.<\/strong> An 85%, one-year lock-up limits near-term liquidity, supports orderly post-merger trading, and signals long-term commitment from founders and majority investors. Thereafter, restricted shareholders are released over an additional 12 months.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->$35 million of new capital was invested to support the merger and accelerate major media client adoption. This follows over $10 million of R&amp;D investment in RTB\u2019s \u201cDeWeb\u201d acquired, Web3 media platform, primarily funded by Binance and Roundtable founding investors.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Most recent investment: $2 million from Board Member, insider, and co-founder David Bailey\u2019s <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1419275\/000118518526000560\/ryvyl424b3021026.htm\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:UTXO;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;UTXO&quot;}\" class=\"link \">UTXO<\/a> at a $150 million valuation, or approximately $11.15 per share. Implied market capitalization, based on share price and shares outstanding, is outlined below, subject to future option and warrant exercises.<!-- HTML_TAG_END --><\/p>\n<div class=\"table-container yf-t4vsm6\">\n<div class=\"pcrstb-wrap\"><table class=\"article-table yf-t4vsm6\">\n<thead>\n<tr>\n<th>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Detail<!-- HTML_TAG_END --><\/p>\n<\/th>\n<th>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Share Price<!-- HTML_TAG_END --><\/p>\n<\/th>\n<th>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Market Capitalization (outstanding shares)<!-- HTML_TAG_END --><\/p>\n<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td data-testid=\"cell-0-0\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Approximate Share Price<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-0-1\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->$5<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-0-2\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->67,500,000<!-- HTML_TAG_END --><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td data-testid=\"cell-1-0\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Market Cap, at $100M<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-1-1\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->$7.40<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-1-2\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->100,000,000<!-- HTML_TAG_END --><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td data-testid=\"cell-2-0\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Most Recent Investment ($2 Million)<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-2-1\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->$11.15<!-- HTML_TAG_END --><\/p>\n<\/td>\n<td data-testid=\"cell-2-2\">\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->~$150,000,000<!-- HTML_TAG_END --><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div><\/div>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->\u201cThe RVYL merger will have an amplifying effect on our mission and we believe offers the same opportunity for shareholders,\u201d Heckman said.<!-- HTML_TAG_END --><\/p>\n<blockquote class=\"neo-blockquote yf-1kwbn3\">\n<p class=\"yf-1kwbn3\"><!-- HTML_TAG_START --><strong>\u201cOur founders and investors are focused on long-term value as we roll out our market-changing, Web3, AI-powered digital media platform over the coming years. Our team has refined this technical and business model since the 1990s and believes this next-generation platform can restore, grow, and protect value for professional media owners in perpetuity.\u201d<\/strong><!-- HTML_TAG_END --><\/p>\n<\/blockquote>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START -->Additionally, CEO Heckman has a long track record of executing strategic partnerships with major media brands, a common growth driver in media and technology. RTB has executed a binding agreement to acquire a controlling interest in a leading digital media company as part of a strategic partnership, leveraging its technology and distribution. The $10 million deposit represents the first step in securing the partnership and aligns with recent growth investments.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START --><strong>Disclosure<\/strong>: This article was provided by Roundtable, the subject of the story. Roundtable and its affiliates have a direct financial interest in the securities of the company discussed. This communication should not be construed as investment advice.<!-- HTML_TAG_END --><\/p>\n<p class=\"yf-1fy9kyt\"><!-- HTML_TAG_START --><i>This story was originally published by <a href=\"https:\/\/www.thestreet.com\/crypto\/markets\/roundtable-ceo-details-nasdaq-strategy-long-term-focus-capitalization-structure\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:TheStreet;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;TheStreet&quot;}\" class=\"link \">TheStreet<\/a> on Apr 6, 2026, where it first appeared in the <a href=\"https:\/\/www.thestreet.com\/markets\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:MARKETS;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;MARKETS&quot;}\" class=\"link \">MARKETS<\/a> section. Add TheStreet as a <a href=\"https:\/\/google.com\/preferences\/source?q=thestreet.com\" rel=\"nofollow noopener\" target=\"_blank\" data-ylk=\"slk:Preferred Source by clicking here.;elm:context_link;itc:0;sec:content-canvas\" data-yga=\"{&quot;yLinkElement&quot;:&quot;context_link&quot;,&quot;yModuleName&quot;:&quot;content-canvas&quot;,&quot;yLinkText&quot;:&quot;Preferred Source by clicking here.&quot;}\" class=\"link \">Preferred Source by clicking here.<\/a><\/i><!-- HTML_TAG_END --><\/p>\n<\/p><\/div>\n<p><br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/markets\/stocks\/articles\/roundtable-ceo-james-heckman-details-163910783.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Roundtable (\u201cRTB\u201d) CEO James Heckman detailed the Company\u2019s post-merger capitalization strategy following the April 1 shareholder approval of its merger with RYVYL Inc. (NASDAQ: RVYL). The&hellip;<\/p>\n","protected":false},"author":1,"featured_media":43017,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[40],"tags":[],"class_list":["post-43016","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/43016","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=43016"}],"version-history":[{"count":0,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/posts\/43016\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=\/wp\/v2\/media\/43017"}],"wp:attachment":[{"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=43016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=43016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/foreignnewstoday.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=43016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}