Petra Acquisition in an SEC filing said it will hold a meeting later this month for stockholders to vote on extending the SPAC’s merger deadline until Dec. 13 from the current Oct. 13. The precise date of the meeting was not disclosed in the filing.
Petra is in a pending merger with Revelation Biosciences that values the combined enterprise at $128 million. The deal was announced late last month.
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.
