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SAN DIEGO - Revelation Biosciences, Inc. (NASDAQ:REVB) will implement a 1-for-3 reverse stock split on July 7, 2025, following stockholder approval at a special meeting held on June 23, the company announced. Investors tracking biotech stocks can access comprehensive financial analysis and real-time alerts through InvestingPro, which offers detailed insights into company fundamentals and market positioning.
The reverse split aims to increase the market price of Revelation’s common stock to regain compliance with Nasdaq Capital Market’s minimum bid continued listing requirements. The company’s shares will continue trading under the symbol REVB with a new CUSIP number: 76135L705. Stay ahead of compliance issues and market developments with InvestingPro’s advanced stock monitoring tools and compliance tracking features.
Under the terms of the split, every three shares of issued and outstanding common stock will automatically convert into one share. Stockholders who would receive fractional shares will have their holdings rounded down to the nearest whole share. The split will not alter stockholders’ relative equity interests or change the par value of the common stock.
Registered stockholders holding shares electronically in book-entry form will not need to take action to receive post-split shares. Those owning shares through brokers will have positions automatically adjusted according to their brokers’ processes.
In a separate announcement, Revelation stated that enrollment for its PRIME Phase 1b clinical study of Gemini in chronic kidney disease patients is expected to complete this month, with topline data anticipated shortly thereafter.
Revelation Biosciences is a clinical-stage life sciences company developing Gemini, its proprietary formulation, for various applications including prevention of post-surgical infection and acute kidney injury, and treatment of chronic kidney disease.
The information in this article is based on a company press release statement.
In other recent news, Revelation Biosciences announced the pricing of its public offering, aiming to raise approximately $4 million in gross proceeds. The offering consists of 3,640,000 shares of common stock, each paired with a warrant to purchase additional shares at a price of $1.10. The funds are intended to support various company initiatives, including completing a Phase 1b clinical study and further product development. Roth Capital Partners is acting as the sole placement agent for this offering. Additionally, Revelation Biosciences reported the retirement of Dr. George F. Tidmarsh from its Board of Directors due to his new role with US governmental agencies, which could present a conflict of interest. Dr. Tidmarsh has been a significant figure at the company for five years and will continue his career as an Adjunct Professor at Stanford University. CEO James Rolke expressed gratitude for Dr. Tidmarsh’s contributions and extended best wishes for his future endeavors. Revelation Biosciences continues to focus on developing its proprietary formulation, Gemini, to address various health conditions.
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