SHAREHOLDER ALERT: Levi & Korsinsky, LLP Notifies Investors of an Investigation Regarding Whether the Merger of Tenzing Acquisition Corp. with Reviva Pharmaceuticals, Inc. is Fair to TZAC Shareholders
New York, New York--(Newsfile Corp. - July 24, 2020) - The following statement is being issued by Levi & Korsinsky, LLP:
To: All Persons or Entities who own Tenzing Acquisition Corp. ("Tenzing" or the "Company") (NASDAQ: TZAC) Common Stock.
You are hereby notified that Levi & Korsinsky, LLP has commenced an investigation into the fairness of the merger of Tenzing with Reviva Pharmaceuticals, Inc. ("Reviva"). Under the terms of the merger, Tenzing will reincorporate from the British Virgin Islands to the State of Delaware, and a newly formed Delaware subsidiary of Tenzing will merge with and into Reviva, with Reviva continuing as the surviving corporation and a wholly-owned subsidiary of Tenzing. Following the closing, shareholders of Reviva are expected to hold approximately 52% of the issued and outstanding shares of the combined company and Tenzing shareholders are expected to hold approximately 48%. The closing is subject to certain conditions and is currently expected to occur in September 2020 or the fourth quarter of 2020. To learn more about the action and your rights, go to:
or contact Joseph E. Levi, Esq. either via email at firstname.lastname@example.org or by telephone at (212) 363-7500. There is no cost or obligation to you.
The Tenzing merger investigation concerns whether the Board of Tenzing breached their fiduciary duties to stockholders by agreeing to enter into this transaction and whether the merger undervalues Tenzing relative to Reviva, thereby harming Tenzing shareholders.
Levi & Korsinsky is a nationally recognized firm with offices in New York, Connecticut, California, and Washington D.C. The firm's attorneys have extensive expertise in prosecuting securities litigation involving financial fraud, representing investors throughout the nation in securities lawsuits and have recovered hundreds of millions of dollars for aggrieved shareholders. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
Levi & Korsinsky, LLP
Joseph E. Levi, Esq.
55 Broadway, 10th Floor
New York, NY 10006
Tel: (212) 363-7500
Fax: (212) 363-7171
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/60495