Revelation Biosciences Faces Delisting Concerns

TL;DR

REVB might get delisted, big trouble for shareholders.

AI Summary

Revelation Biosciences, Inc. filed an 8-K on October 21, 2024, reporting a notice of delisting or failure to satisfy a continued listing rule or standard. The company was formerly known as Petra Acquisition Inc. and was incorporated in Delaware.

Why It Matters

This filing indicates potential issues with Revelation Biosciences' continued listing on an exchange, which could significantly impact its stock value and investor confidence.

Risk Assessment

Risk Level: high — A notice of delisting or failure to meet listing standards poses a significant risk to the company's operations and stock viability.

Key Players & Entities

• REVELATION BIOSCIENCES, INC. (company) — Registrant
• Petra Acquisition Inc. (company) — Former company name
• October 16, 2024 (date) — Earliest event reported
• October 21, 2024 (date) — Date of report
• Delaware (jurisdiction) — State of incorporation

FAQ

Key Financial Figures

• $0.001 — ch registered Common stock, par value $0.001 per share REVB The Nasdaq Stock Mar
• $12,075.00 — of common stock at an exercise price of $12,075.00 per share REVBW The Nasdaq Stock Ma
• $1.00 — nies to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Requi
• $2,500,000 — es the Company to maintain a minimum of $2,500,000 in stockholders' equity for continued l
• $35 million — value of listed securities of at least $35 million or net income of $500,000 from continui
• $500,000 — f at least $35 million or net income of $500,000 from continuing operations in the most

Filing Documents

• revb-20241016.htm (8-K) — 47KB
• 0000950170-24-115955.txt ( ) — 200KB
• revb-20241016.xsd (EX-101.SCH) — 48KB
• revb-20241016_htm.xml (XML) — 7KB

01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing

Item 3.01 Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing. On October 16, 2024, Revelation Biosciences, Inc. (the "Company") received a letter (the "Minimum Bid Price Deficiency Letter") from the Listing Qualifications Department (the "Staff") of The Nasdaq Stock Market LLC ("Nasdaq"), notifying the Company that it was not in compliance with Nasdaq Listing Rule 5550(a)(2) which requires listed companies to maintain a minimum bid price of $1.00 per share (the "Minimum Bid Price Requirement"). Normally, a company would be afforded a 180-calendar day period to demonstrate compliance with the Minimum Bid Price Requirement. However, pursuant to Listing Rule 5810(c)(3)(A)(iv) the Company is not eligible for any compliance period specified in Rule 5810(c)(3)(A) because the Company effected one or more reverse stock splits over the prior two-year period with a cumulative ratio of 250 shares or more to one. Separate from and in addition to the Minimum Bid Price Deficiency Letter, as previously disclosed, on August 14, 2024, the Company received a letter (the "Stockholders' Equity Requirement Deficiency Letter" and together with the Minimum Bid Price Deficiency Letter, the "Deficiency Letters") from the Staff of Nasdaq notifying the Company that it was not in compliance with Nasdaq Listing Rule 5550(b)(1), which requires the Company to maintain a minimum of $2,500,000 in stockholders' equity for continued listing on The Nasdaq Capital Market (the "Stockholders' Equity Requirement"), nor is it in compliance with either of the alternative listing standards, market value of listed securities of at least $35 million or net income of $500,000 from continuing operations in the most recently completed fiscal year, or in two of the three most recently completed fiscal years. The Minimum Bid Price Deficiency Letter stated that the Company's Stockholders' Equity Requirement Deficiency serves as an additional basis per Nasdaq Lis

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded with the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. REVELATION BIOSCIENCES, INC. Date: October 21, 2024 By: /s/ Chester S. Zygmont, III Chester S. Zygmont, III Chief Financial Officer (principal financial and accounting officer)

View Full Filing

View this 8-K filing on SEC EDGAR