Reviva Announces Closing of $3 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
CUPERTINO, Calif., May 29, 2024 (GLOBE NEWSWIRE) — Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) (“Reviva” or the “Company”), a late-stage pharmaceutical company developing therapies that seek to address unmet medical needs in the areas of central nervous system (CNS), inflammatory and cardiometabolic diseases, today announced that it has closed its previously announced registered direct offering for the sale and issuance of 1,898,734 shares of the Company’s common stock and warrants to purchase up to 1,898,734 shares of common stock at a combined offering price of $1.58 per share of common stock and accompanying warrant priced at-the-market under the Nasdaq rules. The warrants have an exercise price of $1.455 per share, are immediately exercisable and will expire five years following the date of issuance.