Revelation Biosciences Inc. Announces Closing of $6.2 Million Public Offering
Summary
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 agents 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. Revelation has multiple ongoing programs to evaluate Gemini, including GEMINI-SSI as a prevention for hospital acquired infection, GEMINI-AKI as a prevention for acute kidney injury, and GEMINI-CKD for the treatment of chronic kidney disease.For more information on Revelation, please visit www.RevBiosciences.com.This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements are generally identified by the words "anticipate," "believe," "expect," "estimate," "plan," "outlook," and "project" and other similar expressions. The following factors, among others, could cause actual results to differ materially from those described in these forward-looking statements: the ability of Revelation to meet its financial and strategic goals, due to, among other things, competition; the ability of Revelation to grow and manage growth profitability and retain its key employees; the possibility that Revelation may be adversely affected by other economic, business, and/or competitive factors; risks relating to the successful development of Revelations product candidates; the ability to successfully complete planned clinical studies of its product candidates; the risk that we may not fully enroll our clinical studies or enrollment will take longer than expected; risks relating to the occurrence of adverse safety events and/or unexpected concerns that may arise from data or analysis from our clinical studies; changes in applicable laws or regulations; expected initiation of the clinical studies, the timing of clinical data; the outcome of the clinical data, including whether the results of such study is positive or whether it can be replicated; the outcome of data collected, including whether the results of such data and/or correlation can be replicated; the timing, costs, conduct and outcome of our other clinical studies; the anticipated treatment of future clinical data by the FDA, the EMA or other regulatory authorities, including whether such data will be sufficient for approval; the success of future development activities for its product candidates; potential indications for which product candidates may be developed; the ability of Revelation to maintain the listing of its securities on NASDAQ; the expected duration over which Revelations balances will fund its operations; and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in other reports and other public filings with the SEC by Revelation.