Reviva Pharmaceuticals Holdings (RVPH) said late Monday that it has priced s public offering of 12 million shares of common stock along with series A warrants and series B warrants at $1.50 per share of common stock and accompanying warrants for total expected gross proceeds of $18 million.

The company said each share of common stock is sold with one series A warrant to purchase half a share of common stock and one series B warrant to purchase one share of common stock. Both warrants are exercisable at a price of $1.50 per whole common share.

The offering is expected to close Wednesday, subject to closing conditions.

Reviva intends to use the net proceeds to fund research and development, working capital and other general corporate purposes.