Company: REVB
Filing Date: 2025-03-06
Form Type: 10-K
Source: 0000950170-25-034584
Chunk: 61

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-03-06
Form: 10-K
Item: Item 16
Chunk 61
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      Class F Common Stock Warrants and Class G Common Stock WarrantsIn connection with the Class E Warrant Inducement to exercise the Class E Common Stock Existing Warrants, the Company issued 4,064,040 Class F Common Stock Warrants to purchase up to 254,002 shares of common stock at an exercise price of $16.00 per share. The Class F Warrants have an alternative cashless exercise provision that allows the holder thereof to receive two shares of common stock without payment of the exercise price. The Company valued the Class F Common Stock Warrants based on the alternative cashless exercise provision issued and recognized approximately $4.1 million and included in the issuance costs of the Class E Warrant Inducement and treated as equity. The Class F Common Stock Warrants are exercisable for a period of two years from January 17, 2025.In connection with the Class E Warrant Inducement to exercise the Class E Common Stock Existing Warrants, the Company issued 6,096,060 Class G Common Stock Warrants to purchase up to 381,004 shares of common stock at an exercise price of $16.00 per share, valued on the Class E Warrant Inducement date in the aggregate at $2.1 million and included in the issuance costs of the Class E Warrant Inducement and treated as equity. The Class G Common Stock Warrants are exercisable for a period of five years from January 17, 2025. As part of the 2025 Reverse Stock Split on January 28, 2025, the number of shares of common stock the Class G Common Stock Warrants are exercisable into was reset from 381,004 to 1,621,463 and the exercise price of the Class G Common Stock Warrants was reset from $16.00 to $3.7596.The fair value of the Class G Common Stock Warrants were estimated using the Black-Scholes option pricing model with the following assumptions:  

        Volatility

        100
        %

        Expected term (years)

        5

        Risk-free interest rate

        4.38
        %

        Expected dividend yield

        0.0
        %

 F-25

11. Income TaxesThe Company did not record a provision for income taxes for the years ended December 31, 2024 and December 31, 2023 due to a full valuation allowance against its deferred tax assets.The difference between the provision