Revelation Biosciences Inc. Announces Pricing of $5 Million Public Offering
26 July 2022 - 10:15PM
Revelation Biosciences Inc. (NASDAQ: REVB) (the “Company” or
“Revelation”), a clinical-stage life sciences company that is
focused on the development of immunologic-based therapies for the
prevention and treatment of disease, today announced the pricing of
a public offering of 8,333,334 shares of its common stock, together
with warrants to purchase up to 8,333,334 shares of its common
stock at an offering price to the public of $0.60 per share and
associated warrant. The warrants will have an exercise price of
$0.60 per share, are exercisable upon issuance, and will expire
five years following the date of issuance. The closing of the
offering is expected to occur on or about July 28, 2022, subject to
the satisfaction of customary closing conditions.
Roth Capital Partners is acting as sole
placement agent for the offering.
The gross proceeds to the Company from the offering are expected
to be approximately $5 million, before deducting the placement
agent’s fees and other offering expenses payable by Revelation. The
Company intends to use the net proceeds from this offering to
further the development of REVTx-99b; further development of
REVTx-200 and REVTx-300; continue to develop other products and
therapies; and fund working capital and general corporate purposes
using any remaining amounts.
A registration statement on Form S-1 (File No.
333-266108) relating to these securities has been filed with the
Securities and Exchange Commission, or the SEC, and was declared
effective by the SEC on July 25, 2022. The offering will be made
only by means of a prospectus, which is part of the effective
registration statement. When available, electronic copies of the
final prospectus may be obtained for free on the SEC’s website
located at http://www.sec.gov and may also be obtained by
contacting Roth Capital Partners, LLC, 888 San Clemente Drive,
Newport Beach, California 92660, by calling (800) 678-9147 or by
e-mail at rothecm@roth.com.
This press release does not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or other jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
About Revelation Biosciences Inc.
Revelation Biosciences, Inc. is a clinical-stage
life sciences company focused on the development of
immunologic-based therapies for the prevention and treatment of
disease. Revelation has multiple product candidates in development.
REVTx-99b, the lead therapeutic candidate, is being developed for
allergic rhinitis. REVDx-501, a rapid home use diagnostic that can
be used to detect any respiratory viral infection, regardless of
virus type or strain, without the need for specialized
instrumentation. Revelation has engaged MedWorld Advisors to
facilitate partnering of the REVDx-501 asset. REVTx-200 is an
intranasal immunomodulator adjunct to be used in combination with a
traditional intramuscular vaccination for more complete
immunity.
For more information on Revelation, please visit
www.RevBiosciences.com.
Forward-Looking Statements
This press release contains forward-looking
statements as defined in the Private Securities Litigation Reform
Act of 1995, as amended. Forward-looking statements are statements
that are not historical facts. These forward-looking statements are
generally identified by the words "anticipate", "believe",
"expect", "estimate", "plan", "outlook", and "project" and other
similar expressions. We caution investors that forward-looking
statements are based on management’s expectations and are only
predictions or statements of current expectations and involve known
and unknown risks, uncertainties and other factors that may cause
actual results to be materially different from those anticipated by
the forward-looking statements. Revelation cautions readers not to
place undue reliance on any such forward looking statements, which
speak only as of the date they were made. The following factors,
among others, could cause actual results to differ materially from
those described in these forward-looking statements: the ability of
Revelation to meet its financial and strategic goals, due to, among
other things, competition; the ability of Revelation to grow and
manage growth profitability and retain its key employees; the
possibility that the Revelation may be adversely affected by other
economic, business, and/or competitive factors; risks relating to
the successful development of Revelation’s product candidates; the
clinical utility of an increase in intranasal cytokine levels as a
biomarker of viral infections; the ability to successfully complete
planned clinical studies of its product candidates; the risk that
we may not fully enroll our clinical studies or enrollment will
take longer than expected; risks relating to the occurrence of
adverse safety events and/or unexpected concerns that may arise
from data or analysis from our clinical studies; changes in
applicable laws or regulations; expected initiation of the clinical
studies, the timing of clinical data; the outcome of the clinical
data, including whether the results of such study is positive or
whether it can be replicated; the outcome of data collected,
including whether the results of such data and/or correlation can
be replicated; the timing, costs, conduct and outcome of our other
clinical studies; the anticipated treatment of future clinical data
by the FDA, the EMA or other regulatory authorities, including
whether such data will be sufficient for approval; the success of
future development activities for its product candidates; potential
indications for which product candidates may be developed; the
potential impact that COVID-19 may have on Revelation’s suppliers,
vendors, regulatory agencies, employees and the global economy as a
whole; the ability of Revelation to maintain the listing of its
securities on NASDAQ; investor sentiment relating to SPAC related
going public transactions; the expected duration over which
Revelation’s balances will fund its operations; and other risks and
uncertainties described herein, as well as those risks and
uncertainties discussed from time to time in other reports and
other public filings with the SEC by Revelation.
Company Contacts
Sandra VedrickVice President, Investor Relations & Human
ResourcesRevelation Biosciences Inc. Email:
svedrick@revbiosciences.com
and
Chester Zygmont, IIIChief Financial OfficerRevelation
Biosciences Inc. Email: czygmont@revbiosciences.com
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