Reviva Pharmaceuticals prices $10 million public offering at $1.50 per share

Reviva Pharmaceuticals Holdings, Inc. (NASDAQ: RVPH) announced the pricing of its public offering with healthcare institutional investors for approximately $10 million in gross proceeds before fees and expenses.

The company will sell 6,666,667 shares of common stock along with Series G and Series H warrants to purchase up to 6,666,667 shares each at a combined price of $1.50 per share and accompanying warrants. Both warrant series have an exercise price of $1.50 per share.

The Series G Warrants will be exercisable immediately and expire five years from issuance, while the Series H Warrants will be exercisable immediately and expire 12 months from issuance.

The offering is expected to close on or about March 20, 2026, subject to customary closing conditions. A.G.P./Alliance Global Partners serves as the sole placement agent.

Reviva stated it intends to use net proceeds along with existing cash to fund research and development activities, including its planned RECOVER-2 Phase 3 trial for brilaroxazine in schizophrenia, and for working capital and general corporate purposes.

The securities are being offered under an effective shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on February 2, 2024, and declared effective February 13, 2024.

Reviva is a late-stage pharmaceutical company developing therapies for central nervous system, inflammatory and cardiometabolic diseases. The company's pipeline includes two drug candidates: brilaroxazine and RP1208, both discovered in-house with composition of matter patents granted in the United States, Europe and other countries.

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