Revive Therapeutics Announces Closing of Second Tranche of Private Placement

Core Insights - Revive Therapeutics Ltd. has successfully closed a second tranche of its private placement, issuing 4,352,381 units at a price of $0.021 per unit, resulting in gross proceeds of $91,400 [1][2] Group 1: Private Placement Details - Each unit consists of one common share and one common share purchase warrant, with each warrant allowing the holder to acquire one common share at an exercise price of $0.05 for 36 months post-closing [2] - The gross proceeds from this private placement will be allocated for working capital and the payment of certain trade payables [2] - All securities issued are subject to a hold period of four months and one day, expiring on January 19, 2026 [2] Group 2: Company Overview - Revive Therapeutics is focused on developing innovative therapeutics for critical medical needs, leveraging FDA regulatory incentives for rapid advancement and market entry [3] - The company is currently concentrating on the potential of Bucillamine for infectious diseases and medical countermeasures, including treatments for nerve agent exposure [3] - Revive is also advancing its Psilocybin and molecular hydrogen therapeutic programs, exploring new frontiers in medical science [3]