Revelation Biosciences raises $15.6M in public offering; believes it regains Nasdaq compliance

REVELATION BIOSCIENCES, INC.

Gross proceeds of ~$15.6M from sale of 2.89M shares and pre-funded warrants, plus 6.45M warrants at $5.36 exercise price.
Net proceeds of ~$14.1M to fund REVTx-100 and REVTx-300 development, including Phase 1a/1b studies and manufacturing.
Company believes it now meets Nasdaq's $2.5M stockholders' equity requirement; bid price compliance at 9 of 10 consecutive days.
Officers and directors subject to 90-day lock-up; institutional investors have leak-out limiting sales to 25% of trading volume until April 10.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

REVELATION BIOSCIENCES, INC. entered into Placement Agency Agreement with Roth Capital Partners, LLC valued at gross proceeds of approximately $15.6 million (effective 2023-02-09).

Action: entry
Agreement: underwriting
Counterparty: Roth Capital Partners, LLC
Value: gross proceeds of approximately $15.6 million
Effective: 2023-02-09

Exact text from the filing

On February 9, 2023, Revelation Biosciences, Inc., (the “Company”), entered into a placement agency agreement (the “Placement Agency Agreement”) with Roth Capital Partners, LLC (the “Placement Agent”)

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

REVELATION BIOSCIENCES, INC. entered into Purchase Agreement with certain purchasers valued at gross proceeds of approximately $15.6 million (effective 2023-02-09).

Action: entry
Agreement: equity purchase
Counterparty: certain purchasers
Value: gross proceeds of approximately $15.6 million
Effective: 2023-02-09

Exact text from the filing

a securities purchase agreement (the “Purchase Agreement”) with certain purchasers for the purchase and sale, in a registered public offering by the Company (the “Public Offering”), of (i) an aggregate of 2,888,600 shares of its common stock

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REVELATION BIOSCIENCES, INC. filing history →

Source: SEC EDGAR

accession 0000950170-23-002652

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