Company: REVB
Filing Date: 2025-05-20
Form Type: S-1
Source: 0001213900-25-045828
Chunk: 215

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-05-20
Form: S-1
Chunk 215
---
 Additionally, on August 22, 2024, the exercise price of the Class D Common Stock Warrants was reset from $ 38.24to $ 16.00. As part of the 2025 Reverse Stock Split on January 28, 2025, the exercise price of the Class D Common Stock Warrants was reset from $ 16.00to $ 3.7596. As of December 31, 2024 there were 80,940Class D Common Stock Warrants outstanding to purchase up to 5,060shares of common stock that were not included in the Class D Warrant Inducement. F-23 REVELATION BIOSCIENCES, INC.
Notes to the Consolidated Financial Statements 10. Warrants(cont.)

The fair value of the Class D
Common Stock Warrants were originally estimated using the Black-Scholes option pricing model with the following assumptions:

| Volatility              |     |  100 | % |
| Expected term (years)   |     |    5 |   |
| Risk-free interest rate |     | 4.20 | % |
| Expected dividend yield |     |  0.0 | % |

Modification of the Class D Common Stock Warrants and Class E Common Stock Warrants

As part of the Class D
Warrant Inducement, the Class D Common Stock Existing Warrants to purchase up to shares of common stock were modified.
Due to the warrant modification the fair value of the Class D Common Stock Existing Warrants were revalued before and after the warrant
modification, and as the warrant modification is directly attributable to an equity offering, the Company recognized the effect of the
warrant modification of approximately $ million using the Black-Scholes option pricing model.

In connection with the Class D
Warrant Inducement, the Company issued Class E Common Stock Warrants to purchase up to shares of common stock at
an exercise price of $ per share, valued on the Class D Warrant Inducement date in the aggregate at $ million and included
in the issuance costs of the Class D Warrant Inducement and treated as equity. The Class E Common Stock Warrants were exercisable
immediately upon issuance, provide for a cash or cashless exercise right and expire on .

As of December 31, 2024,
there are Class E Common Stock Warrants outstanding to purchase shares of common stock that were not included in
the Class E Warrant Inducement.

The fair value of