Company: REVB
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001213900-25-047104
Chunk: 209

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-05-23
Form: S-1/A
Chunk 209
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 with
an exercise price of $ per share which expire on , valued on the issuance date in the aggregate at
$ (the “Rollover Warrants”).

As of December 31, 2024,
there were Rollover Warrants remaining to be exercised or exchanged.

The fair value of the Rollover
Warrants were estimated using the Black-Scholes option pricing model with the following assumptions:

| Volatility              |     |  115 | % |
| Expected term (years)   |     |    6 |   |
| Risk-free interest rate |     | 0.85 | % |
| Expected dividend yield |     |  0.0 | % |

F-20 REVELATION BIOSCIENCES, INC.
Notes to the Consolidated Financial Statements 10. Warrants(cont.)

Class A Common Stock Warrants

In connection with the closing
of a private placement on January 25, 2022 (“PIPE Investment”), the Company issued warrants to an institutional investor
to purchase up to shares of common stock at an exercise price of $ per share (the “Class A Common Stock
Warrants”), valued on the PIPE Investment purchase date in the aggregate at $ million and included in the issuance costs
of the PIPE Investment and treated as equity. The warrants were exercisable immediately upon issuance, provide for a cash or cashless
exercise right and expire on .

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

| Volatility              |     |   47 | % |
| Expected term (years)   |     |    5 |   |
| Risk-free interest rate |     | 1.54 | % |
| Expected dividend yield |     |  0.0 | % |

Class A Placement Agent Common Stock Warrants

In connection with the PIPE
Investment, the Company issued warrants to Roth to purchase an aggregate of shares of common stock at an exercise price of $ per
share (the “Class A Placement Agent Common Stock Warrants”), valued on the PIPE Investment purchase date in the aggregate
at $ million and included in the issuance costs of the PIPE Investment and treated as equity. The warrants were exercisable immediately
upon issuance, provide for a cash or cashless exercise right and expire on .

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

| Vol