Revelation Biosciences, Inc., a pharmaceutical company based in San Diego, California, announced an adjustment to the exercise price of its Class C and Class D Common Stock Purchase Warrants. The adjustment was disclosed in a recent 8-K filing with the Securities and Exchange Commission.
The Class C Warrants, with CUSIP 76135L408, are now exercisable for a 1/30th of a share of common stock at $2.39 per share. Similarly, the Class D Warrants, bearing CUSIP 76135L143, are exercisable for a full share of common stock at the same price of $2.39. This marks a change from their original terms issued on February 13, 2023, and February 5, 2024, respectively.
Due to the adjustments still pending in the Depository Trust Corporation (DTC) system, Cede & Co., a nominee of DTC, cannot currently process exercises of the Warrants at the new exercise price. In the interim, warrant holders may exercise their Warrants by submitting the Notice of Warrant Exercise form directly to the Warrant Agent, Continental Stock Transfer & Trust Company, located in New York, NY.
The company has provided instructions for the direct delivery of Warrant Shares through DWAC (Deposit/Withdrawal at Custodian) provided by the warrant holder.
Revelation Biosciences has clarified that, aside from the updated exercise price, all other terms and conditions of the Warrants remain unchanged, including the mechanics of their exercise.
The Nasdaq Stock Market LLC lists the company's common stock and warrants under the symbols REVB and REVBW, respectively. As an emerging growth company, Revelation Biosciences is subject to certain reporting accommodations under federal securities laws.
This announcement is based on the latest SEC filing by Revelation Biosciences and reflects the company's financial and corporate activities as they pertain to the terms of the Warrants issued.
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