Reviva Pharmaceuticals Holdings, Inc. announced that it has entered into a Securities Purchase Agreement with several institutional investors and Vedanta R2 to sell and issue Pre-Funded Warrants to purchase up to 585,366 shares of Common Stock and Common Warrants to purchase up to 585,366 shares of Common Stock at a combined purchase price of $5.1249 per Pre-Funded Warrant and accompanying Common Warrant for an aggregate gross proceeds of approximately $3 million on November 15, 2023. The Pre-Funded Warrants are immediately exercisable at an exercise price of $0.0001 per share and will expire when the Pre-Funded Warrants are fully exercised. The Common Warrants are immediately exercisable at an exercise price of $5.00 per share and will expire on November 20, 2028.

Each Pre-Funded Warrant and Common Warrant is exercisable into one share of Common Stock of the Issuer, unless the holder, together with certain related parties, would beneficially own in excess of 19.99% of the Common Stock outstanding immediately after giving effect to such exercise.