Parag Saxena and Vedanta Disclose 5.4%–6.2% Holdings in RVPH

Rhea-AI Filing Summary

Amendment No. 11 to the Schedule 13D updates beneficial ownership disclosures for Parag Saxena and Vedanta Partners, LLC in Reviva Pharmaceuticals Holdings, Inc. (ticker RVPH). As of the filing date, Vedanta Partners reports beneficial ownership of 5,367,069 shares, representing 5.4% of the 96,337,119 shares outstanding. Mr. Saxena is deemed to beneficially own 6,259,806 shares, or 6.2%, including directly held shares, shares held through related partnerships, vested options and securities underlying warrants and pre-funded warrants. The filing states no transactions occurred in the prior 60 days and explains certain exercise limitations on warrants that prevent ownership above 4.99% for some holders.

Positive

• Clear and detailed disclosure of direct, indirect and derivative holdings, enhancing transparency for investors
• No transactions in the prior 60 days, indicating no immediate change in trading activity by the reporting persons
• Exercise limitations on certain warrants cap potential sudden increases in ownership above 4.99%, reducing short-term dilution risk

Negative

• Holdings remain below control thresholds (5.4% and 6.2%), so investors seeking a change in governance may find this non-impactful
• Material reliance on warrants and pre-funded warrants means beneficial ownership is sensitive to derivative exercises, which could affect dilution if exercised

Insights

Financial Analyst

TL;DR: Beneficial stakes disclosed are modest and non-controlling; warrants/options increase potential exposure but include exercise limits.

The filing reports clear ownership math: Vedanta Partners holds 5.4% and Parag Saxena 6.2% on a fully-diluted 60-day exercise basis. The composition includes direct shares, warrants, pre-funded warrants and fully vested options. The inclusion of issuance limitations on certain warrants caps near-term dilution and voting concentration from those instruments. No trades in the prior 60 days reduces immediacy of activity. Overall, this is a material disclosure for transparency but not a change likely to alter control or trigger regulatory thresholds.

Corporate Governance Expert

TL;DR: Ownership disclosures are comprehensive; reported holdings remain below activist/control thresholds and include customary warrant limits.

The Schedule 13D/A demonstrates compliance with Rule 13d-3 aggregation and timing requirements, detailing direct and indirect holdings and the treatment of exercisable securities within 60 days. The reported 4.99% issuance limitations on certain warrants are important governance controls that limit sudden increases in voting power. Because reported holdings are under common control thresholds (e.g., 10% or higher control levels), this filing signals monitoring rather than an imminent governance takeover or control contest.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 11)

REVIVA PHARMACEUTICALS HOLDINGS, INC.

(Name of Issuer)

Common Stock, $0.0001 par value

(Title of Class of Securities)

76152G100

(CUSIP Number)

Parag Saxena
Vedanta Management, L.P., 250 West 55th Street, Ste 13D
New York, NY, 10019
212-710-5220

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

09/22/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 76152G100

1

Name of reporting person

VEDANTA PARTNERS, LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,367,069.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,367,069.00

11

Aggregate amount beneficially owned by each reporting person

5,367,069.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

5.4 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

See Item 5 for additional information.

SCHEDULE 13D

CUSIP No. 76152G100

1

Name of reporting person

Parag Saxena

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF, WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

INDIA

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 892,737.00
8	Shared Voting Power 5,376,069.00
9	Sole Dispositive Power 892,737.00
10	Shared Dispositive Power 5,367,069.00

11

Aggregate amount beneficially owned by each reporting person

6,259,806.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

6.2 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

See Item 5 for additional information.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, $0.0001 par value
(b)	Name of Issuer: REVIVA PHARMACEUTICALS HOLDINGS, INC.
(c)	Address of Issuer's Principal Executive Offices: Vedanta Management, L.P., 250 West 55th Street, Ste 13D, New York, NEW YORK , 10019.
Item 1 Comment: This Amendment No. 11 to Schedule 13D (this "Amendment No. 11") filed on behalf of Parag Saxena and Vedanta Partners, LLC ("Vedanta Partners" and together, the "Reporting Persons") amends and supplements the Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on September 4, 2018, as amended and supplemented by Amendment No. 1, Amendment No. 2 and Amendment No. 3 on January 19, 2021, Amendment No. 4 on June 3, 2021, Amendment No. 5 on September 12, 2022, Amendment No. 6 on November 30, 2023, Amendment No. 7 on May 31, 2024, Amendment No. 8 on August 23, 2024, Amendment No. 9 on January 31, 2025, and Amendment No. 10 on July 1, 2025 (as amended, the "Schedule 13D"). Except as specifically provided herein, this Amendment No. 11 does not modify or amend any of the information previously reported in the Schedule 13D. Capitalized terms used and not otherwise defined herein shall have the meanings ascribed to such terms in the Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	The information set forth in rows 11 and 13 of the cover pages to this Amendment No. 11 are incorporated by reference into this Item 5. The percentages set forth in row 13 of each cover page are based on 96,337,119 outstanding shares of common stock, par value $0.0001 per share ("Common Stock"), of Reviva Pharmaceuticals Holdings, Inc., a Delaware corporation (the "Issuer"), as of September 22, 2025, as reported directly by the Issuer to the Reporting Persons.
(b)	The information set forth in rows 7 through 10 of the cover pages to this Amendment No. 11 is incorporated by reference. The 5,367,069 shares of Common Stock reported as beneficially owned on this Amendment No. 11 by Vedanta Partners consist of the following: (i) 931,000 shares of Common Stock held by Vedanta Associates-R, L.P. ("Vedanta Associates-R"), (ii) 399,000 shares of Common Stock held by Beta Operators Fund, L.P. ("Beta Operators"), (iii) 99,539 shares of Common Stock held by Vedanta Associates, L.P. ("Vedanta Associates"), (iv) 513,834 shares of Common Stock underlying warrants held by Vedanta Associates-R, (v) 869,565 shares of Common Stock underlying warrants held by Beta Operators, (vi) 585,366 shares of Common Stock underlying warrants held by Vedanta R2 Partners, LP ("Vedanta R2"), (vii) 513,834 shares of Common Stock underlying pre-funded warrants held by Vedanta Associates-R, (vii) 869,565 shares of Common Stock underlying pre-funded warrants held by Beta Operators, and (viii) 585,366 shares of Common Stock underlying pre-funded warrants held by Vedanta R2. As a result, Vedanta Partners is deemed to beneficially own 5.4% of the outstanding shares of Common Stock of the Issuer as of September 24, 2025 (the "Filing Date"). The securities beneficially owned by Vedanta Partners excludes (i) 689,150 shares of Common Stock issuable upon the exercise of 918,867 warrants held by Vedanta Associates-R, and (ii) 299,250 shares of Common Stock issuable upon the exercise of 399,000 warrants held by Beta Operators, each of which contain an issuance limitation that prohibits the holder from exercising the warrants to the extent that after giving effect to such issuance after exercise, the holder (together with the holder's affiliates and any other persons acting as a group together with the holder or any of the holder's affiliates, including the other Reporting Persons) would beneficially own in excess of 4.99% of the shares of Common Stock outstanding immediately after giving effect to the issuance of the shares of Common Stock issuable upon exercise of the warrants. The 6,259,806 shares of Common Stock reported as beneficially owned on this Amendment No. 11 by Mr. Saxena consist of the following: (i) 871,337 shares of Common Stock held directly, (ii) 931,000 shares of Common Stock held by Vedanta Associates-R, (iii) 399,000 shares of Common Stock held by Beta Operators, (iv) 99,539 shares of Common Stock held by Vedanta Associates, (v) 513,834 shares of Common Stock underlying warrants held by Vedanta Associates-R, (vi) 869,565 shares of Common Stock underlying warrants held by Beta Operators, (vii) 585,366 shares of Common Stock underlying warrants held by Vedanta R2, (viii) 513,834 shares of Common Stock underlying pre-funded warrants held by Vedanta Associates-R, (ix) 869,565 shares of Common Stock underlying pre-funded warrants held by Beta Operators, (x) 585,366 shares of Common Stock underlying pre-funded warrants held by Vedanta R2, and (xi) 21,400 underlying options that are fully vested as of the Filing Date. As a result, Mr. Saxena is deemed to beneficially own 6.2% of the outstanding shares of Common Stock of the Issuer as of the Filing Date. The securities beneficially owned by Mr. Saxena exclude 8,200 shares underlying options that are unvested as of 60 days of the Filing Date. In accordance with Rule 13d-3, the beneficial ownership percentage for each Reporting Person assumes that the warrants and options that can be exercised within 60 days of the Filing Date, if any, held by such Reporting Person have been exercised, and that no other warrants or options have been exercised.
(c)	The Reporting Persons have not effected any transactions during the past sixty (60) days from the date of this filing in any securities of the Issuer.
(d)	Except as otherwise reported herein, no person or entity other than the Reporting Persons have the right to receive, or the power to direct the receipt of dividends from, or the proceeds from the sale of the shares of the Common Stock reported on this Schedule 13D.
(e)	Not applicable.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

VEDANTA PARTNERS, LLC

Signature:	/s/ Parag Saxena
Name/Title:	Parag Saxena/CEO
Date:	09/24/2025

Parag Saxena

Signature:	/s/ Parag Saxena
Name/Title:	Parag Saxena/Individual
Date:	09/24/2025

FAQ

How many RVPH shares does Vedanta Partners report owning?

Vedanta Partners reports beneficial ownership of 5,367,069 shares, representing 5.4% of RVPH outstanding shares.

What percentage of RVPH does Parag Saxena beneficially own?

Parag Saxena is deemed to beneficially own 6,259,806 shares, or 6.2% of RVPH on the filing date.

Does the filing report any recent transactions in RVPH securities?

No; the filing states the Reporting Persons have not effected any transactions during the prior 60 days.

Are there limits on exercising warrants disclosed in the filing?

Yes; certain warrants include an issuance limitation preventing exercise to the extent such exercise would cause beneficial ownership to exceed 4.99%.

What types of securities contribute to the reported ownership?

Ownership includes directly held shares, shares held through affiliated partnerships, warrants, pre-funded warrants, and fully vested options.