Reviva Pharmaceuticals Announces $5 Million Offering
Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH), a late-stage pharmaceutical company focused on developing therapies for central nervous system (CNS), inflammatory, and cardiometabolic diseases, has revealed the pricing of its underwritten offering. This offering consists of 4,761,905 shares of the Company’s common stock along with accompanying investor warrants, priced at $1.05 per share, in accordance with Nasdaq rules. Additionally, pre-funded warrants are available at a price of $1.0499.
Offering Details
The offering is anticipated to close shortly, pending standard conditions. Reviva expects to raise around $5.0 million in gross proceeds, which will be directed towards research and development efforts for its global, randomized 4-week Phase 3 RECOVER-2 trial, as well as for general corporate needs.
Amendments to Warrants
Reviva has also agreed to modify existing warrants held by an investor, allowing for the purchase of up to 4,736,561 shares of common stock. This includes a lowered exercise price of $0.7964 per share, which will take effect upon the closing of the offering.
About Reviva Pharmaceuticals
Reviva is committed to discovering and developing innovative therapeutics for diseases that lack effective treatments. The company’s pipeline targets CNS, inflammatory, and cardiometabolic diseases, featuring two primary drug candidates: brilaroxazine (RP5063) and RP1208, both of which are novel chemical entities developed in-house.
Intellectual Property Portfolio
Reviva has secured composition of matter patents for brilaroxazine and RP1208 across various jurisdictions, including the United States and Europe, reinforcing its standing in the biopharmaceutical industry.
Contact Information
Corporate Contact:
Reviva Pharmaceuticals Holdings, Inc.
Laxminarayan Bhat, PhD
Website: www.revivapharma.com
Titan Partners Contact:
(929) 833-1246
Email: prospectus@titanpartnersgrp.com
Frequently Asked Questions
What is the purpose of the $5 million offering by Reviva Pharmaceuticals?
The offering aims to support research and development activities, including clinical trials and general corporate purposes.
What are the key drug candidates in Reviva's pipeline?
Reviva's pipeline features two main candidates: brilaroxazine (RP5063) and RP1208.
What changes were made to existing investor warrants?
Existing warrants have been amended to feature a reduced exercise price of $0.7964 per share, effective upon the closing of the offering.
Who is acting as the bookrunner for the offering?
Titan Partners Group, a division of American Capital Partners, is serving as the sole bookrunner for this offering.
Where can interested parties find additional information about the offering?
More details about the offering will be available in the final prospectus supplement, which will be filed with the SEC.
