Reviva Pharmaceuticals (RVPH) Prices 20M Share Offering at $0.50/sh

Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) (“Reviva” or the “Company”), a late-stage pharmaceutical company developing therapies that seek to address unmet medical needs in the areas of central nervous system (CNS), inflammatory and cardiometabolic diseases, today announced the pricing of its previously announced public offering with existing and new healthcare focused institutional investors for the purchase and sale of 20,000,000 shares of its common stock (or common stock equivalents in lieu thereof) together with Series C warrants to purchase up to 20,000,000 shares of common stock (the "Series C Warrants") and Series D warrants to purchase up to 20,000,000 shares of common stock (the "Series D Warrants"), at a combined offering price of $0.50 per share and accompanying warrants, for aggregate gross proceeds of approximately $10 million before deducting placement agent fees and other offering expenses.

The Series C Warrants and the Series D Warrants will have an exercise price of $0.50 per share. The Series C Warrants will be exercisable immediately and will expire five years from the issuance date. The Series D Warrants will be exercisable immediately and will expire 12 months from the issuance date.

The closing of the offering is expected to occur on or about June 27, 2025, subject to the satisfaction of customary closing conditions. The Company currently intends to use the net proceeds from the offering to fund research and development activities and for working capital and other general corporate purposes.

A.G.P./Alliance Global Partners is acting as the sole placement agent for the offering.

The securities are being offered pursuant to an effective shelf registration statement on Form S-3 (File No. 333-276848), including a base prospectus, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 2, 2024, and declared effective by the SEC on February 13, 2024. A preliminary prospectus supplement related to the offering has been filed with the SEC and is available on the SEC’s website at www.sec.gov. Electronic copies of the final prospectus supplement and accompanying base prospectus, when available, may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060, or by email at [email protected].

This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities being offered, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

You May Also Be Interested In

• Bullish stock climbs on Stacks token listing expansion
• Eikon Therapeutics names new chief scientific officer from Bristol Myers Squibb
• Eledon files IND for islet cell trial, eyes Phase 3 kidney study