aibioReviva asks stockholders to approve reverse split of up to 1-for-100
Tickers RVPH
The proposal goes to a virtual annual meeting on December 18, 2026. The board would pick the ratio and could decide not to split at all.
Key facts
- Company
- Reviva Pharmaceuticals Holdings, Inc. (OTC: RVPH)
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- Listings
- Primary source
- Reviva Pharmaceuticals Holdings, Inc. PRE 14A (2026-10-29)
Reviva Pharmaceuticals Holdings, Inc. filed a preliminary proxy statement on October 29, 2026, asking stockholders to approve a reverse stock split at any ratio from one-for-two to one-for-one hundred. The split would be made through an amendment to the company's certificate of incorporation and could be carried out at any time before December 31, 2027. The board would decide, in its sole discretion, whether to proceed and at what ratio, without returning to stockholders for a second vote.
Stockholders of record at the close of business on October 30, 2026 can vote at the annual meeting. It is set for 11:00 a.m. Pacific Time on Friday, December 18, 2026, and will be held virtually over the internet. Stockholders log in at the company's virtual meeting site with the 16-digit control number on their proxy card. Reviva is based in Cupertino, California. The reverse split is one of five proposals. The others are the election of five directors, ratification of Baker Tilly US, LLP as the independent auditor for 2026, an advisory vote on executive pay, and a proposal to adjourn the meeting if there are not enough votes. The board recommends a vote for each one.
A second split this year
The company has already carried out a reverse split in 2026. The proxy says a one-for-twenty (1:20) reverse split took effect on March 9, 2026, and that the share, warrant, option and per-share figures in the proxy are adjusted for it. If the new proposal passes, the board would have authority for a further split of as much as one-for-one hundred.
What it takes to pass
Approval requires a majority of the outstanding shares entitled to vote on the proposal. Abstentions and broker non-votes count as votes against it. The proxy says the reverse split is generally treated as a routine matter, so brokers may vote uninstructed shares on it. A quorum requires the presence of one-third of the voting power outstanding on the record date. The nominees are Laxminarayan Bhat, the chief executive, Chairman Parag Saxena, Richard Margolin, Purav Patel and Les Funtleyder. Narayan Prabhu is the chief financial officer.
Reviva has hired Alliance Advisors, LLC as proxy solicitor for a services fee of $10,000 plus out-of-pocket expenses. The proxy materials, including the company's annual report on Form 10-K for fiscal 2025, are available online at www.proxyvote.com.
The finances behind the request
The company's 2025 net loss was $19.9 million, against $29.9 million in 2024, according to its annual report filed March 30, 2026. Research and development expense fell to $11.7 million from $22.9 million. Cash used in operations was $24.6 million in 2025, against $33.5 million in 2024.
Cash and cash equivalents were $13.5 million at the end of 2024, $14.4 million at the end of 2025 and $19.9 million at June 30, 2026, according to the company's filings. The proxy materials carry the 2025 annual report on Form 10-K.
The auditor change and what the vote leaves open
Moss Adams, the previous auditor, merged with Baker Tilly effective June 3, 2025. Moss Adams' audit reports for 2024 and 2023 each carried an explanatory paragraph on going concern uncertainty. Audit fees were $1,732,500 for 2025 and $822,568 for 2024.
The proposal sets a range but does not commit the company to any ratio or date. The board can choose not to split at all. Stockholders would be approving authority rather than a specific ratio, and the final share count would depend on decisions made after the December 18 meeting. The company expects to begin sending the notice of the meeting to stockholders in November 2026.