Reviva Announces $30M Registered Direct Offering Priced At-the-Market Under Nasdaq Rules
Portfolio Pulse from Benzinga Newsdesk
Reviva Pharmaceuticals Holdings, Inc. has announced a registered direct offering priced at-the-market under Nasdaq rules, aiming to raise $30 million. This capital raise is significant for the company's financial strategy and future operations.
November 16, 2023 | 1:01 pm
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Reviva Pharmaceuticals Holdings, Inc.'s $30M registered direct offering may dilute existing shares but provides capital for growth, potentially impacting the stock price short term.
Registered direct offerings often lead to dilution of existing shares, which can negatively impact the stock price in the short term. However, the capital raised is intended for corporate purposes, which might benefit the company in the long run. The immediate reaction to such news is typically negative due to the dilution concern.
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