Reviva Pharmaceuticals Holdings, Inc.Announces $3 Million Registered Direct Offering Priced At-the-Market
Reviva Pharmaceuticals Holdings, Inc.(NASDAQ: RVPH) recently revealed plans for a registered direct offering priced at-the-market under Nasdaq rules.The offering consists of 1,898,734 shares of common stock and warrants to purchase up to 1,898,734 shares at a combined price of $1.58 per share.Each warrant has an exercise price of $1.455 per share and will be valid for five years.The closing of the offering is slated for May 29, 2024, pending customary closing conditions.
The announcement comes as Reviva Pharmaceuticals has been developing therapies focusing on central nervous system (CNS), inflammatory, and cardiometabolic diseases.The company currently has 29.887325 million shares outstanding, with the stock trading at $1.53.
This strategic move is expected to bolster Reviva Pharmaceuticals’ financial position and support its ongoing research and development efforts.Investors and industry experts will be closely monitoring the company’s progress following this latest funding initiative.
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