An­tivi­ral nasal drop mak­er does the Nas­daq shuf­fle as part of mi­nor SPAC re­verse merg­er

Rev­e­la­tion Bio­sciences, a San Diego biotech work­ing on an­tivi­ral nasal drops, will go pub­lic as part of a re­verse merg­er with the Pe­tra Ac­qui­si­tions SPAC an­nounced Tues­day.

The deal is for $73 mil­lion and comes af­ter Rev­e­la­tion closed a $4.4 mil­lion Se­ries A-1 in Feb­ru­ary. Once the trans­ac­tion is com­plet­ed, the new­co val­u­a­tion will be around $128 mil­lion. Rev­e­la­tion’s ex­ist­ing stock­hold­ers will own more than half — 54% — of the com­pa­ny. Rev­e­la­tion’s cur­rent CEO James Rolke will con­tin­ue to lead the com­pa­ny, when the deal clos­es in Q4 of 2021. In a press re­lease, he said:

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