Company: REVB
Filing Date: 2025-05-29
Form Type: PRE 14A
Source: 0000950170-25-078948
Chunk: 40

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-05-29
Form: PRE 14A
Chunk 40
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 with certain non-public offerings involving the sale, issuance or potential issuance by the Company of common stock (or securities convertible into or exercisable for common stock) equal to 20% or more of the common stock outstanding before the issuance.

Overview

On May 29, 2025, the Company entered into a Securities Purchase Agreement (the “SPA”) with certain institutional investors, pursuant to which the Company is obliged to issue Class H Common Stock Warrants (the “Class H Common Stock Warrants”) in connection with a best-efforts offering (the “Offering.”) The Class H Common Stock Warrants will be exercisable beginning on the effective date of such stockholder approval (“Stockholder Approval”). Each Class H Common Stock Warrant is exercisable at an exercise price of $1.10 share and will expire five years from the initial exercise date.

The Company raised net proceeds of $3.4 million in connection with the SPA.

Reasons for Securities Purchase Agreement

We have funded our operations since our inception to March 31, 2025 through the issuance and sale of our capital stock, from which we have raised net proceeds of $56.8 million. Our current cash and cash equivalents balance will not be sufficient to complete all necessary product development or future commercialization efforts. We anticipate that our current cash and cash equivalents balance will not be sufficient to sustain operations within one-year after the date that our audited financial statements for March 31, 2025 were issued, which raises substantial doubt about our ability to continue as a going concern.

We plan to seek additional funding through public or private equity or debt financings. We may not be able to obtain financing on acceptable terms, or at all. The terms of any financing may adversely affect the holdings or the rights of our stockholders. If we are unable to obtain funding we could be required to delay, reduce or eliminate research and development programs, product portfolio expansion or future commercialization efforts, which could adversely affect our business operations.

In any event, in order to finance its clinical trial program in addition to financings required to satisfy Nasdaq rules, the Company will be required to issue additional securities which may be in the form of common stock, preferred stock, convertible preferred stock, warrants to purchase the foregoing, convertible debt or other securities. There can be no assurance that any such financing will be available on terms attractive to the Company, if at all. Any such financing may be dilutive to the Company’s stockholders, which dilution may be substantial.

Reasons for