Reviva Pharmaceuticals Priced An Underwritten Offering Of 4.76M Shares (Or Pre-funded Warrants In Lieu Thereof) And Investor Warrants To Purchase Up To 4.76M Shares, Combined Price Of Each Share And Accompanying Warrant Is $1.05 And Each Pre-funded Warrant And Accompanying Warrant Is $1.0499
Portfolio Pulse from Benzinga Newsdesk
Reviva Pharmaceuticals has announced an underwritten offering of 4.76 million shares or pre-funded warrants, along with investor warrants to purchase an additional 4.76 million shares. The combined price for each share and accompanying warrant is set at $1.05, while each pre-funded warrant and accompanying warrant is priced at $1.0499.
August 21, 2024 | 10:07 am
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Reviva Pharmaceuticals is conducting an underwritten offering of 4.76 million shares or pre-funded warrants, with additional investor warrants. This move could lead to stock price volatility due to potential dilution.
The offering of new shares and warrants at a set price can lead to dilution of existing shares, which often results in downward pressure on the stock price. The market may react negatively in the short term as investors adjust to the increased share count and potential dilution of value.
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