Company: REVB
Filing Date: 2025-05-23
Form Type: S-1/A
Source: 0001213900-25-047104
Chunk: 214

Company: REVELATION BIOSCIENCES, INC.
Filing Date: 2025-05-23
Form: S-1/A
Chunk 214
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 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 the Class D
Common Stock Existing Warrant modification and the Class E Common Stock Warrants were estimated using the Black-Scholes option pricing
model with the following assumptions:

| Volatility              |     |   95 | % |
| Expected term (years)   |     |    5 |   |
| Risk-free interest rate |     | 3.77 | % |
| Expected dividend yield |     |  0.0 | % |

Class F Common Stock Warrants and Class G Common Stock Warrants

In connection with the Class E
Warrant Inducement to exercise the Class E Common Stock Existing Warrants, the Company issued Class F Common Stock
Warrants to purchase up to shares of common stock at an exercise price of $ per share. The Class F Warrants have an
alternative cashless exercise provision that allows the holder thereof to receive 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 $ 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 .

In connection with the Class E
Warrant Inducement to exercise the Class E Common Stock Existing Warrants, the Company issued Class G Common Stock
Warrants to purchase up to shares of common stock at an exercise price of $ per share, valued on the Class E Warrant
Inducement date in the aggregate at $ million and included in the issuance costs of