--- title: "Revelation Biosciences agrees $9.6 million immediate warrant exercise" url: "https://aibio.space/news/revelation-biosciences-agrees-9-6-million-immediate-warrant-exercise/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2025-09-15" section: "Financings" tickers: "NASDAQ:REVB" source: "https://www.sec.gov/Archives/edgar/data/1810560/000119312525203750/revb-ex99_1.htm" summary: "Revelation Biosciences said on September 11, 2025 that holders will exercise warrants for up to 4,355,000 shares at $2.20 each, about $9.6 million in gross" --- By the aibio.space news desk. Sources - [Revelation Biosciences, Inc. 8-K (2025-09-15)](https://www.sec.gov/Archives/edgar/data/1810560/000119312525203750/revb-ex99_1.htm) - [Revelation Biosciences, Inc. 10-K (2025-03-06): business](https://www.sec.gov/Archives/edgar/data/1810560/000095017025034584/revb-20241231.htm) [REVB](https://aibio.space/companies/revelation-biosciences/) 2025-09-15 # Revelation Biosciences agrees $9.6 million immediate warrant exercise Tickers [REVB](https://aibio.space/companies/revelation-biosciences/) Revelation Biosciences said on September 11, 2025 that holders will exercise warrants for up to 4,355,000 shares at $2.20 each, about $9.6 million in gross proceeds. In return they receive new Class I warrants for up to 13,065,000 shares, which cannot be exercised until stockholders approve them. ## Key facts - **Company**: Revelation Biosciences, Inc. (NASDAQ: REVB) - **News type**: Financings - **Primary source**: [Revelation Biosciences, Inc. 8-K (2025-09-15)](https://www.sec.gov/Archives/edgar/data/1810560/000119312525203750/revb-ex99_1.htm) *Office towers against a dusk sky. CC0, via rawpixel. The picture shows the field, not the companies named.* ### The exercise Revelation Biosciences, Inc. said on September 11, 2025 that it had entered into a definitive agreement for the immediate exercise of outstanding warrants. The existing warrants cover up to 4,355,000 shares of common stock. The company issued them on May 29, 2025, and they are exercised at their existing exercise price of $2.20 a share. The release gives the gross proceeds as $9.6 million. The shares underlying the existing warrants are registered on an effective Form S-1, File No. 333-287423. The closing was expected on or about September 11, 2025, subject to customary conditions. Roth Capital Partners is the company's financial advisor on the transaction. The release names no placement agent. ### The new warrants In return for exercising for cash, the holders receive new Class I warrants in a private placement under Section 4(a)(2) of the Securities Act. The new warrants cover up to 13,065,000 shares, more than the 4,355,000 shares being exercised. Their exercise price is $2.20 a share, the same as the old warrants. The new warrants become exercisable only on the effective date of stockholder approval of the shares they would issue, and they run for five years after that date. The securities have not been registered, and the company agreed to file a resale registration statement on Form S-3 within 20 days of the closing to cover the shares underlying the new warrants. The release does not give the net proceeds after fees, nor the number of holders in the exercise. ### The company's programs Revelation is a clinical-stage company that describes its approach as rebalancing inflammation with a proprietary formulation called Gemini. Gemini is a formulation of phosphorylated hexaacyl disaccharide, a synthetic form of monophosphoryl lipid A that stimulates Toll-like receptor 4, or TLR4. The company says that stimulation can reduce inflammation or stimulate immune cells, depending on the dose and the nature of the stimulus. Its three Gemini programs are Gemini-AKI, for the prevention of acute kidney injury, Gemini-CKD, for chronic kidney disease, and Gemini-PSI, for the prevention of surgical site infection. The PSI program is developed under a license agreement with Vanderbilt University. The record behind Gemini-AKI is preclinical and early clinical. The company says preclinical studies showed that preconditioning with PHAD reduced the severity and duration of kidney injury after ischemia. A Phase 1 study ran in 2024, and the company reported safety and biomarker activity in June 2024, including a rise in anti-inflammatory cytokines. The company started a Phase 1b study in chronic kidney disease patients in January 2025. The company's annual report said it expected data from that Phase 1b study in the first half of 2025, and that the study will support further development of both Gemini-AKI and Gemini-CKD. The September release does not mention those results. ### The reverse splits Revelation has cut its share count repeatedly. It effected a 1-for-35 reverse split on February 1, 2023, a 1-for-30 split on January 25, 2024, and a 1-for-16 split on January 28, 2025. Each split followed a stockholder approval at a special meeting. The 2023 vote also raised the authorized common stock to 500,000,000 shares. The common stock and public warrants trade on Nasdaq under REVB and REVBW. The release lists the company's ability to maintain its Nasdaq listing among the risks in its forward-looking statements. ### The money and the dilution The exercise brings in gross proceeds of $9.6 million from warrants that were issued only months earlier, in May 2025. The new warrants at $2.20 would bring in more cash only if holders exercise them after stockholder approval. Those shares would add to a share count that has already been through three reverse splits since 2023. ### What comes next The next steps are the closing on or about September 11, 2025, the filing of the resale registration within 20 days of closing, and a stockholder vote to approve the shares underlying the new warrants. The release does not give a date for that vote. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story REVB Revelation Biosciences, Inc. NASDAQ ยท United States Open the starter desk ## More in Financings Financings ### [INmune Bio raises $4.50 million in registered direct offering with warrants](https://aibio.space/news/inmune-bio-raises-4-50-million-registered-direct-offering-warrants/) Oct 29, 2026 Financings ### [Lexeo Therapeutics files $300 million shelf registration](https://aibio.space/news/lexeo-therapeutics-files-300-million-shelf-registration/) Oct 29, 2026 Financings ### [ProKidney files $650 million shelf with $200 million Jefferies sales program](https://aibio.space/news/prokidney-files-650-million-shelf-200-million-jefferies-sales-program/) Oct 29, 2026 --- Source page: https://aibio.space/news/revelation-biosciences-agrees-9-6-million-immediate-warrant-exercise/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "Revelation Biosciences agrees $9.6 million immediate warrant exercise", 2025-09-15, https://aibio.space/news/revelation-biosciences-agrees-9-6-million-immediate-warrant-exercise/