Reviva Pharmaceuticals closes USD 10 million public offering of common stock and warrants

Reuters03-23

Reviva Pharmaceuticals closes USD 10 million public offering of common stock and warrants

Reviva closed a public offering with healthcare-focused institutional investors for 6,666,667 common shares (or equivalents) and Series G and Series H warrants to purchase up to 6,666,667 shares each.
The combined offering price was USD 1.50 per share and accompanying warrants, for gross proceeds of about USD 10 million.
Both warrant series have an exercise price of USD 1.50 per share, with Series G expiring in five years and Series H expiring in 12 months.
Net proceeds are intended to fund R&D activities including the RECOVER-2 Phase 3 trial for brilaroxazine in schizophrenia, and for working capital and general corporate purposes.
Cash and cash equivalents after the closing were about USD 23 million, which Reviva said it expects will fund operations into Q1-2027.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Reviva Pharmaceuticals Holdings Inc. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: 202603230800PRIMZONEFULLFEED9676507) on March 23, 2026, and is solely responsible for the information contained therein.

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