Reviva Pharmaceuticals Holdings, Inc. (NASDAQ:RVPH) saw its stock dive 39% in premarket trading Friday, following the announcement of a public offering intended to raise roughly $9 million.
The company plans to offer 27 million shares of common stock, or equivalents, at $0.335 per share, each paired with one Series E and one Series F warrant, both set at the same $0.335 exercise price. Series E warrants will be exercisable immediately and expire in five years, while Series F warrants can also be exercised immediately but will expire after 12 months. The offering is expected to close around September 22, 2025, pending standard closing conditions.
Reviva, which develops treatments for central nervous system, inflammatory, and cardiometabolic conditions, intends to use the proceeds to support research and development, general corporate needs, and working capital.
A.G.P./Alliance Global Partners is acting as the sole placement agent. The sharp decline in shares reflects investor concerns over the potential dilution for existing stockholders from the new issuance.
Reviva Pharmaceuticals Holdings stock price
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