Revelation Biosciences Raises $7.76 Million in Equity Financing

SAN DIEGO, Jan. 24, 2022 (GLOBE NEWSWIRE) -- Revelation Biosciences Inc. (NASDAQ: REVB) (the “Company” or “Revelation”), a clinical-stage life sciences company that is focused on the development of immunologic‑based therapies for the prevention and treatment of disease, announced today that it has entered into a definitive agreement with a leading healthcare-focused institutional investor, pursuant to which the Company agreed to sell 1,293,126 shares of Common Stock (“Shares”) at a gross purchase price of $3.00 per Share. Additionally, Revelation has agreed to issue to the investor unregistered warrants to purchase up to 2,586,667 shares (the “Common Warrants”), as well as unregistered pre-funded warrants to purchase up to 1,239,541 shares (the “Pre-Funded Warrants” and together with the Common Warrants, the “Warrants”) in a concurrent private placement. The Common Warrants have an exercise price of $3.29 per share, will become exercisable in six months after their date of issuance and will expire five and a half years from their date of issuance. The Pre-Funded Warrants have been funded to the amount of $3.00 with $0.0001 payable on exercise.

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