Petra Acquisition in an 8-K filing disclosed that its shareholders approved a series of extensions beyond what would have been the deadline today for completing its proposed merger with Revelation Biosciences. The SPAC now has options to further extend the date monthly until Jan. 13.
Announced in August, the deal with Revelation Biosciences values the combined enterprise at $128 million.
Terms call for Revelation to receive the $73 million of cash in Petra’s trust. Revelation’s existing stockholders will own approximately 54% of the fully diluted shares of common stock of the combined company if the deal is approved.
Revelation is a clinical stage life sciences company focused on the development of immunologic‑based therapies for the prevention and treatment of disease, paerticularly respiratory viruses. Read more.
