Revelation Biosciences Inc. announces closing of $6.2M public offering

Revelation Biosciences Inc. announced the closing on February 5, 2024 of its previously announced public offering of 128,470 shares of its common stock and 1,236,530 pre-funded warrants to purchase shares of common stock, together with warrants to purchase up to 2,730,000 shares of its common stock at an offering price to the public of $4.53 per share and associated warrant, or $4.5299 per pre-funded warrant and associated warrant. The warrants have an exercise price of $4.53 per share, are exercisable upon issuance, and will expire five years following the date of issuance.

Roth Capital Partners acted as sole placement agent for the offering.

The gross proceeds to the Company from the offering are approximately $6.2 million, before deducting the placement agent’s fees and other offering expenses payable by Revelation. The Company intends to use the net proceeds from this offering to further the development of GEM-SSI, GEM-AKI and GEM-CKD including (i) a combined Phase 1a clinical study for GEM-SSI and GEM-AKI, (ii) a Phase 1b clinical study for GEM-SSI for the prevention of surgical site infection in colorectal surgery, (iii) a Phase 1b clinical study for GEM-AKI for the prevention and treatment of AKI due to cardiac surgery, (iv) necessary preclinical work for GEM-CKD, (v) continue to develop other products and therapies, and (vi) fund working capital and general corporate purposes using any remaining amounts.

The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-276232), as amended, that was declared effective by the U.S. Securities and Exchange Commission (“SEC”), on January 31, 2024.
MB Bureau