NEW YORK, Sept. 14, 2020 /PRNewswire/ -- Tenzing
Acquisition Corp., a special purpose acquisition company
incorporated in the British Virgin
Islands ("Tenzing") (NASDAQ: TZAC), and Reviva
Pharmaceuticals, Inc., a Delaware
corporation ("Reviva") and a California-based clinical stage pharmaceutical
company developing therapies that address unmet medical needs in
the areas of central nervous system, cardiovascular, metabolic, and
inflammatory diseases, announced today that Mr. Les Funtleyder will join the Board of Directors
of the combined public company following the completion of
Tenzing's proposed business combination (the "Business
Combination") with Reviva, subject to the approval of his election
by Tenzing's shareholders at the special meeting of Tenzing's
shareholders that will be held to approve the Business Combination
and related matters.
Mr. Funtleyder is a Healthcare Portfolio Manager at E Squared,
where he is responsible for conducting fundamental and valuation
analysis of public and private companies within the healthcare
industry. Prior to E Squared, Mr. Funtleyder was the Director of
Strategic Investments for Opko Health. Mr. Funtleyder was a
portfolio manager for the Miller Tabak Health Care Transformation
Fund. He joined Miller Tabak after
managing a healthcare portfolio for Provident Advisors. Before
joining Provident, Mr. Funtleyder worked as a medical device
analyst at UBS Warburg. He also covered Biotechnology stocks at
Bigelow and Company. Mr. Funtleyder's industry experience includes
directing clinical and business research at Innovative Health
Solutions, a joint venture of Merck and Wyeth, and as a consultant
to HMOs and hospitals for Coopers & Lybrand and Health
Strategies Group. He started his healthcare career at Empire Blue
Cross/Blue Shield.
Mr. Funtleyder is currently a consulting partner to
Bluecloud Health (a private equity fund that invests in African
healthcare companies) as well as an advisor to Zentinyel (a venture
fund that invests in South American Healthcare companies).
Presently, Mr. Funtleyder is on the board of Applied Therapeutics
where he served as interim CFO from December
2018 to April 2019, Acalis
Health, where he sits on the audit committee, and Picket
Pharmaceuticals. Mr. Funtleyder wrote Healthcare Investing:
Profiting from the New World of Pharma, Biotech, and Health Care
Services, which bridges the gap between health reform, innovation
and investing. He is widely quoted in the Wall Street Journal, the
New York Times, and the Financial
Times, and is a frequent guest on CNBC, Bloomberg, and NPR for his
perspective on the healthcare sector and its constituent
companies.
Mr. Funtleyder earned his Masters of Public Health from
Columbia University Mailman School of
Public Health (where he is currently a professor), and studied
English and Economics at Tulane
University.
"We are fortunate to have Mr. Funtleyder agree to join the Board
of Directors, following the completion of the Business Combination
with Tenzing," stated Laxminarayan
Bhat, Ph.D., Founder, President and CEO of Reviva. "Mr.
Funtleyder brings a wealth of knowledge of the healthcare industry,
and will enable our shareholders to benefit from his experience and
competencies in both public and private markets."
About Tenzing Acquisition Corp.
Tenzing is a blank check company formed for the purpose of
entering into a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar
business combination with one or more businesses or entities.
Tenzing's efforts to identify a prospective target business are not
limited to a particular industry or geographic region.
About Reviva Pharmaceuticals, Inc.
Reviva Pharmaceuticals, Inc. is a clinical stage pharmaceutical
company developing therapies that address unmet medical needs in
the areas of central nervous system, cardiovascular, metabolic, and
inflammatory diseases. Reviva's primary focus is developing
its lead product candidate, RP5063
(brilaroxazine), for the treatment of schizophrenia, bipolar
disorder, and major depressive disorder. Reviva also intends
to develop RP5063 for treating PAH
and IPF. RP5063 is a serotonin,
dopamine, and nicotinic receptor active compound, which has
successfully completed a global Phase 2 clinical trial and has
shown clinical efficacy and safety for schizophrenia and
schizoaffective disorder.
Forward-Looking Statements
This press release contains, and certain oral statements made by
representatives of Tenzing and Reviva and their respective
affiliates, from time to time may contain, "forward-looking
statements" within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995.
Tenzing's and Reviva's actual results may differ from their
expectations, estimates and projections and consequently, you
should not rely on these forward-looking statements as predictions
of future events. Words such as "expect," "estimate,"
"project," "budget," "forecast," "anticipate," "intend," "plan,"
"may," "will," "could," "should," "believes," "predicts,"
"potential," "might" and "continues," and similar expressions are
intended to identify such forward-looking statements. These
forward-looking statements include, without limitation, Tenzing's
and Reviva's expectations with respect to future performance and
anticipated financial impacts of the Business Combination, the
satisfaction of the closing conditions to the Business Combination
and the timing of the completion of the Business Combination. These
forward-looking statements involve significant risks and
uncertainties that could cause actual results to differ materially
from expected results. Most of these factors are outside the
control of Tenzing or Reviva and are difficult to predict.
Factors that may cause such differences include, but are not
limited to: (1) the occurrence of any event, change or other
circumstances that could give rise to the termination of the merger
agreement for the Business Combination (the "Merger Agreement");
(2) the inability to complete the Business Combination, including
due to failure to obtain approval of the shareholders of Tenzing or
other conditions to closing in the Merger Agreement; (3) the
inability to obtain or maintain the listing of Tenzing's common
stock on NASDAQ following the Business Combination; (4) the risk
that the Business Combination disrupts current plans and operations
of Reviva as a result of the announcement and consummation of the
Business Combination; (5) the ability to recognize the anticipated
benefits of the Business Combination, which may be affected by,
among other things, competition, the ability of the combined
company to grow and manage growth economically and hire and retain
key employees; (6) the risks that Reviva's products in development
fail clinical trials or are not approved by the U.S. Food and Drug
Administration or other applicable authorities; (7) costs related
to the Business Combination; (8) changes in applicable laws or
regulations; (9) the possibility that Tenzing or Reviva may be
adversely affected by other economic, business, and/or competitive
factors; and (10) other risks and uncertainties to be identified in
the proxy statement/prospectus (when available) relating to the
Business Combination, including those under "Risk Factors" therein,
and in other filings with the Securities and Exchange Commission
("SEC") made by Tenzing. The foregoing list of factors is not
exclusive. Readers are cautioned not to place undue reliance
upon any forward-looking statements, which speak only as of the
date made. Neither Tenzing nor Reviva undertakes or accepts
any obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements to reflect any change
in its expectations or any change in events, conditions or
circumstances on which any such statement is based, subject to
applicable law.
No Offer or Solicitation
This press release is for informational purposes only and shall
not constitute an offer to sell or the solicitation of an offer to
buy any securities pursuant to the proposed Business Combination or
otherwise, nor shall there be any sale of securities in any
jurisdiction in which the offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such jurisdiction. No offer of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act of 1933, as
amended.
Important Information about the Business Combination and
Where to Find It
In connection with the proposed Business Combination described
herein, Tenzing has filed a registration statement on Form S-4 with
the SEC on August 12, 2020,
which includes a preliminary proxy statement/prospectus of Tenzing.
Tenzing will mail a definitive proxy statement/prospectus and other
relevant documents to each shareholder entitled to vote at the
special meeting relating to the Business Combination.
INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THESE MATERIALS
(INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER
RELEVANT DOCUMENTS IN CONNECTION WITH THE BUSINESS COMBINATION THAT
TENZING WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE BECAUSE
THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TENZING, REVIVA AND
THE BUSINESS COMBINATION. The preliminary registration/proxy
statement, the definitive registration/proxy statement and other
relevant materials in connection with the Business Combination
(when they become available), and any other documents filed by
Tenzing with the SEC, may be obtained free of charge at the SEC's
website (www.sec.gov) or by writing to Tenzing Acquisition Corp. at
250 W. 55th St., Suite 13D, New York,
NY 10019.
Participants in Solicitation
Tenzing and Reviva and their respective directors, executive
officers and employees and other persons may be deemed to be
participants in the solicitation of proxies from the holders of
Tenzing ordinary shares in respect of the proposed Business
Combination. Information about Tenzing's directors and executive
officers and their ownership of Tenzing's ordinary shares is set
forth in Tenzing's Annual Report on Form 10-K for the year ended
February 29, 2020 filed with the SEC,
as modified or supplemented by any Form 3 or Form 4 filed with the
SEC since the date of such filing. Other information regarding the
interests of the participants in the proxy solicitation is included
in Tenzing's Registration Statement on Form S-4, which was filed
with the SEC on August 12, 2020 and
includes a preliminary proxy statement/prospectus of Tenzing for
the proposed Business Combination. These documents can be obtained
free of charge from the sources indicated above.
View original
content:http://www.prnewswire.com/news-releases/tenzing-acquisition-corp-and-reviva-pharmaceuticals-inc-announce-recruitment-of-les-funtleyder-as-director-301130247.html
SOURCE Tenzing Acquisition Corp.