Petra Acquisition, Inc. (NASDAQ:
PAICU, PAIC, &
PAICW), (“Petra”) a special purpose acquisition company,
today announced that it will hold a Special Meeting of Stockholders
(the “Special Meeting”) to vote on the approval of the proposed
Business Combination (the “Business Combination”) with Revelation
Biosciences, Inc. (“Revelation”), a clinical-stage life sciences
company that is focused on the development of immunologic‑based
therapies for the prevention and treatment of disease.
The Special Meeting is scheduled to be held on
January 6, 2022, at 10:00 a.m., Eastern Time, virtually via live
webcast. Petra common stockholders of record at the close of
business on the record date of December 16, 2021 are entitled to
vote at the Special Meeting.
On December 14, 2021 the Securities and Exchange
Commission (“SEC”) declared effective Petra’s registration
statement on Form S-4 (as amended, the "Registration Statement"),
and on December 16, 2021, Petra filed with the SEC its definitive
proxy statement in connection with the Special Meeting. Promptly
after filing its definitive proxy statement, Petra will mail the
definitive proxy statement and a proxy card to each stockholder
entitled to vote at the Special Meeting. Petra and Revelation
entered into a definitive agreement relating to the Business
Combination on August 29, 2021.
The Business Combination, if approved by Petra’s
stockholders, is expected to close as soon as practicable following
the Special Meeting. Upon closing of the Business Combination the
combined company will be named Revelation Biosciences, Inc. (the
“Combined Company”). The Combined Company’s common stock and
warrants are expected to be listed on the Nasdaq Stock Exchange
under the ticker symbols “REVB” and “REVBW”.
Petra stockholders are encouraged to submit
their vote as soon as possible to ensure they are represented at
the Special Meeting. Petra stockholders who need assistance voting
or have questions regarding the Special Meeting may contact Petra’s
proxy solicitor, Advantage Proxy, by telephone toll-free at
877-870-8565 or by email at ksmith@advantageproxy.com.
About Petra Acquisition,
Inc.
Petra Acquisition, Inc. (NASDAQ: PAICU, PAIC,
& PAICW) is a blank check company organized for the purpose of
effecting a merger, share exchange, asset acquisition, stock
purchase, recapitalization, reorganization or other similar
Business Combination with one or more businesses or entities, with
an initial focus on target businesses in the healthcare or a
healthcare-related industry.
About Revelation Biosciences Inc.
Revelation Biosciences, Inc. is a clinical-stage
life sciences company focused on the development of
immunologic-based therapies for the prevention and treatment of
disease. Revelation has several product candidates in development.
REVTx-99, the lead therapeutic candidate, is an intranasal
immunomodulator to prevent or treat infections caused by various
respiratory viruses such as SARS-CoV-2, including its variants,
influenza A and B, parainfluenza, rhinovirus, and RSV. REVTx-99 is
also being developed for other indications such as: allergic
rhinitis and chronic nasal congestion. REVTx-200 is an intranasal
immunomodulator adjunct to be used in combination with an
intramuscular vaccination for more complete immunity. REVTx-200 is
based on the same technology used in REVTx-99. In addition to
Revelation’s therapeutic pipeline, Revelation is also developing
REVDx-501, a rapid home use diagnostic that can be used to detect
any respiratory viral infection, regardless of virus type or
strain, without the need for specialized instrumentation.
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, including statements regarding the
anticipated benefits of the transaction, the anticipated timing of
the transaction, the future business and financial condition of the
company post-closing and expected financial impacts of the
transaction, the satisfaction of closing conditions to the
transaction, the level of redemptions of Petra’s public
stockholders; the market opportunities for Revelation’s product
candidates; and the potential for regulatory approval for
Revelation’s product candidates. These forward-looking statements
are generally identified by the words "anticipate", "believe",
"expect", "estimate", "plan", "outlook", and "project" and other
similar expressions. Forward-looking statements are statements that
are not historical facts. We caution investors that forward-looking
statements are based on management’s expectations and are subject
to various risks and uncertainties. As a result, caution must be
exercised in relying on 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: risks relating to
the successful completion of RVL-CLR01 clinical study; the risk
that we may not fully enroll our RVL-CLR01 clinical study 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 RVL-CLR01 clinical study;
the occurrence of any event, change or other circumstances that
could give rise to an amendment or termination of the Merger
Agreement and the proposed transaction contemplated thereby; the
inability to complete the transactions contemplated by the Merger
Agreement due to the failure to obtain approval of the stockholders
of Petra or Revelation or other conditions to closing in the Merger
Agreement; the inability to project with any certainty the amount
of cash proceeds remaining in the Petra trust account at the
closing of the transaction; the uncertainty relative to the cash
made available to Revelation at the closing as a result of
redemption requests made by the Petra stockholders; the inability
of the company post-closing to obtain or maintain the listing of
its securities on Nasdaq following the Business Combination; the
amount of costs related to the Business Combination; Revelation’s
ability to yield sufficient cash proceeds from the transaction to
support its short-term operations and research and development
efforts since the Merger Agreement requires no minimum level of
funding in the trust fund to close the transaction; the outcome of
any legal proceedings that may be instituted against the parties
following the announcement of the Business Combination; changes in
applicable laws or regulations; the ability of Revelation to meet
its post-closing financial and strategic goals, due to, among other
things, competition; the ability of the company post-closing to
grow and manage growth profitability and retain its key employees;
the possibility that the company post-closing 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 complete planned clinical studies of REVTx-99; 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 REVTx-99 and expanded indications, REVTx-200,
REVDx-501, or any other 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 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
Petra.
No Offer or Solicitation
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any securities, nor
shall there be any sale of securities in any states or
jurisdictions in which such offer, solicitation, or sale would be
unlawful prior to registration or qualification under the
securities laws of any such jurisdiction. No offering of securities
shall be made except by means of a prospectus meeting the
requirements of Section 10 of the Securities Act, or an exemption
therefrom.
Important Information and Where to Find
It
In connection with the proposed Business
Combination described herein, Petra has filed, and the SEC has
declared effective, a Registration Statement on Form S-4, that
includes a proxy statement/prospectus. Petra will mail the
definitive proxy statement and a proxy card to each stockholder
entitled to vote at the Special Meeting relating to the
transaction. INVESTORS AND STOCKHOLDERS OF PETRA ARE URGED TO READ
THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO)
AND ANY OTHER RELEVANT DOCUMENTS IN CONNECTION WITH THE TRANSACTION
THAT PETRA WILL FILE WITH THE SEC WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT PETRA,
REVELATION AND THE BUSINESS COMBINATION. The definitive proxy
statement and other relevant materials in connection with the
transaction (when they become available), and any other documents
filed by Petra with the SEC, may be obtained free of charge at the
SEC’s website (www.sec.gov).
Participants in the
Solicitation
Petra and its directors and executive officers
may be deemed participants in the solicitation of proxies from
Petra’s stockholders with respect to the Business Combination. A
list of the names of those directors and executive officers and a
description of their interests in Petra is included in the proxy
statement for the proposed Business Combination and is available at
www.sec.gov. Additional information regarding the interests of such
participants is contained in the proxy statement for the proposed
Business Combination. Information about Petra’s directors and
executive officers and their ownership of Petra common stock is set
forth in Petra’s prospectus, dated October 7, 2020, as modified or
supplemented by any Form 3 or Form 4 filed with the SEC since the
date of such filing. Other information regarding the interests of
the participants in the proxy solicitation is included in the proxy
statement pertaining to the proposed Business Combination when it
becomes available. These documents can be obtained free of charge
at the SEC’s website (www.sec.gov).
Revelation and its directors and executive
officers may also be deemed to be participants in the solicitation
of proxies from the stockholders of Petra in connection with the
proposed Business Combination. A list of the names of such
directors and executive officers and information regarding their
interests in the proposed Business Combination is included in the
proxy statement for the proposed Business Combination.
Company Contacts
Andreas TypaldosChief Executive OfficerPetra Acquisition,
Inc.(917) 622-5800
and
Sandra VedrickVice President, Investor Relations & Human
ResourcesRevelation Biosciences Inc. Email:
svedrick@revbiosciences.com
and
Chester Zygmont, IIIChief Financial OfficerRevelation
Biosciences Inc. Email: czygmont@revbiosciences.com
Media contact: Kristin Faulder kristin@heurisay.com
Petra Acquisition (NASDAQ:PAICW)
Historical Stock Chart
From Jun 2024 to Jul 2024
Petra Acquisition (NASDAQ:PAICW)
Historical Stock Chart
From Jul 2023 to Jul 2024