Revelation Biosciences Inc. Announces 1-for-30 Reverse Stock Split Effective January 25, 2024
23 Gennaio 2024 - 3:00PM
Business Wire
Revelation Biosciences Inc. (NASDAQ: REVB) (the “Company” or
“Revelation”), announced today that, on January 25, 2024, the
Company will implement a 1-for-30 reverse split of its common stock
following approval at its Special Meeting of Stockholders held on
January 17, 2024. The reverse stock split will be effective as of
the morning of January 25, 2024, and the Company’s common stock
will trade on a post-split basis at the beginning of trading on the
same date under the existing trading symbol “REVB.” The CUSIP
number for the common stock following the reverse stock split will
be 76135L507.
The reverse stock split is intended to increase the market price
per share of the Company’s common stock to regain compliance with
the minimum bid continued listing requirement of The Nasdaq Capital
Market. Proportionate adjustments will be made to the conversion
and exercise prices of the company’s warrants, restricted stock
unit awards, stock options and to the number of shares issued and
issuable under the Company’s equity incentive plans.
Information for Stockholders
Upon the effectiveness of the reverse stock split, each thirty
shares of the Company’s issued and outstanding common stock will be
automatically combined and converted into one issued and
outstanding share of common stock. The reverse stock split will
affect all stockholders uniformly and will not alter any
stockholder’s relative interest in the Company’s equity, except to
the extent that the reverse stock split would have resulted in a
stockholder owning a fractional share. Holders of common stock
otherwise entitled to a fractional share as a result of the reverse
stock split will automatically be entitled to receive an additional
fraction of a share of common stock to round up to the next whole
share. The reverse stock split will not change the par value of the
common stock or modify the rights or preferences of the common
stock. The Company’s transfer agent, Continental Stock Transfer
& Trust Co., will maintain the book-entry records for the
Company’s common stock. Registered stockholders holding pre-split
shares of the Company’s common stock electronically in book-entry
form are not required to take any action to receive post-split
shares. Stockholders owning shares via a broker, bank, trust or
other nominee will have their positions automatically adjusted to
reflect the reverse stock split, subject to such broker’s
particular processes, and will not be required to take any action
in connect with the reverse stock split. Continental Stock Transfer
& Trust Co. can be reached at (212) 509-4000 or
(800)-509-5586.
About Revelation Biosciences, Inc.
Revelation Biosciences, Inc. is a life sciences company focused
on harnessing the power of trained immunity for the prevention and
treatment of disease using its proprietary formulation Gemini.
Revelation has multiple ongoing programs to evaluate Gemini,
including as a prevention for hospital acquired infection and as a
prevention for acute kidney injury.
For more information on Revelation, please visit
www.RevBiosciences.com.
Forward-Looking Statements
This press release contains forward-looking statements as
defined in the Private Securities Litigation Reform Act of 1995, as
amended. Forward-looking statements are statements that are not
historical facts. These forward-looking statements are generally
identified by the words "anticipate", "believe", "expect",
"estimate", "plan", "outlook", and "project" and other similar
expressions. We caution investors that forward-looking statements
are based on management’s expectations and are only predictions or
statements of current expectations and involve known and unknown
risks, uncertainties and other factors that may cause actual
results to be materially different from those anticipated by the
forward-looking statements. Revelation cautions readers not to
place undue reliance on any such forward looking statements, which
speak only as of the date they were made. 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 the Revelation may be adversely affected by other
economic, business, and/or competitive factors; risks relating to
the successful development of Revelation’s product candidates; the
clinical utility of an increase in intranasal cytokine levels as a
biomarker of viral infections; 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
potential impact that COVID-19 may have on Revelation’s suppliers,
vendors, regulatory agencies, employees and the global economy as a
whole; the ability of Revelation to maintain the listing of its
securities on NASDAQ; investor sentiment relating to SPAC related
going public transactions; the expected duration over which
Revelation’s 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20240123489665/en/
Sandra Vedrick Vice President, Investor Relations & Human
Resources Revelation Biosciences Inc. Email:
svedrick@revbiosciences.com
and
Chester Zygmont, III Chief Financial Officer Revelation
Biosciences Inc. Email: czygmont@revbiosciences.com
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