Reviva Announces Pricing of $18.0 Million Public Offering of Common Stock and Warrants

Core Viewpoint - Reviva Pharmaceuticals Holdings, Inc. has announced a public offering of 12 million shares of common stock, along with series A and B warrants, aiming to raise approximately $18 million for research and development and general corporate purposes [1][2]. Group 1: Offering Details - The public offering includes 12,000,000 shares of common stock priced at$1.50 each, accompanied by series A warrants for 6,000,000 shares and series B warrants for 12,000,000 shares [1]. - Series A warrants are exercisable immediately at an exercise price of $1.50 per share and expire in six months, while series B warrants are also exercisable immediately at the same price but expire in five years [1]. - The offering is expected to close around December 18, 2024, subject to customary closing conditions [1]. Group 2: Financial Proceeds - Reviva anticipates gross proceeds of approximately$18 million from the offering, excluding underwriting discounts and commissions [2]. - The net proceeds will be allocated to fund research and development activities, working capital, and other general corporate purposes [2]. Group 3: Company Overview - Reviva is a late-stage biopharmaceutical company focused on developing therapies for unmet medical needs in CNS, inflammatory, and cardiometabolic diseases [5]. - The company's pipeline includes two drug candidates, brilaroxazine (RP5063) and RP1208, both of which are new chemical entities discovered in-house [5]. - Reviva holds composition of matter patents for both drug candidates in the United States, Europe, and several other countries [5].