PAIC SEC filings, in plain English
Everything Petra Acquisition Inc. has filed with the SEC that we hold — 40 filings, newest first, 6 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: On August 17, 2026 the compensation committee of Revelation Biosciences, Inc. granted restricted stock under the amended and restated 2021 Equity Incentive Plan: 208,076 shares to chief executive James Rolke and 208,073 shares to chief financial officer Chester S. Zygmont, III, effective that date. Each award vests in four equal 25% tranches on the earlier of the company achieving market capitalisation of $30 million, $60 million, $90 million and $120 million for twenty consecutive trading days, or the second anniversary of grant (first two tranches) and the fourth anniversary (last two). Why it matters: The market-capitalisation hurdles accelerate vesting rather than condition it: the thresholds can be missed entirely and the shares still vest on the second and fourth anniversaries. The awards also vest in full immediately before a change in control, and on death, termination without cause or resignation for good reason, so they survive most exit paths.
What changed: Revelation Biosciences, Inc. (Nasdaq: REVB) furnished a press release reporting results for the three and six months ended June 30, 2026. Cash and equivalents were $11.5 million against $10.7 million at December 31, 2025, the increase attributed to net proceeds from the January 2026 warrant inducement offset by operating cash use, and the company states its current cash is sufficient to fund operations through the first quarter of 2027. Net cash used in operating activities was $2.6 million for the quarter against $1.9 million. Why it matters: A stated runway through the first quarter of 2027 against a $2.6 million quarterly burn and $11.5 million of cash is about four quarters, and the pivotal trial it must fund has not yet begun enrolling. The prior-year per-share figures of $28.04 and $54.39 against this year's $0.87 and $3.41 are the reverse-split arithmetic, not an improvement in loss.
What changed: The 10-Q filed under Commission file number 001-39603 is that of Revelation Biosciences, Inc. (Nasdaq: REVB) for the quarter ended June 30, 2026, with 3,983,416 shares outstanding as of August 3, 2026. The registered redeemable warrants are described on the cover as each exercisable for a 1/201,600th share of common stock at an exercise price of $2,318,400.00 per share. Cash was $11,482,792 against $10,700,331 at December 31, 2025, total assets $12,497,932 and total liabilities $2,430,946, leaving stockholders' equity of $10,066,986 against an accumulated deficit of $55,751,722. Why it matters: A warrant that takes 201,600 warrants and $2,318,400.00 per share to buy one share is what an $11.50 SPAC warrant becomes after successive reverse splits — it is arithmetically incapable of being exercised. The company funds itself by repricing warrants downward and issuing new ones, and the accounting cost of that shows up as $5.7 million of deemed dividends that nearly doubles the reported loss to common holders.
going-concern doubtnothing moved · 1 with no prior record of ours
- Going-concern doubt
- stated · unchanged
The clause …“condensed financial statements for June 30, 2026 were issued, which raises substantial doubt about its ability to continue as a going concern. To continue as a going concern, the Company will need, among other things, to raise”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Revelation Biosciences, Inc., the Petra Acquisition Inc. successor, entered a Rights Agreement dated July 10, 2026 with Continental Stock Transfer & Trust Co. as rights agent, filed as Exhibit 4.1. The agreement provides for the issuance of rights and right certificates, sets a purchase price and expiration date for exercise, makes preferred shares available for issuance on exercise, and includes adjustment provisions on consolidation, merger or sale of assets or earning power, together with redemption and exchange mechanics and board determination powers. Why it matters: A rights agreement with preferred shares reserved on exercise is a shareholder rights plan — a poison pill. Its purpose is to make an unapproved accumulation prohibitively dilutive, so it is adopted when a board expects a hostile stake-building or a takeover attempt. For former PAIC holders that means the board has taken control of who can acquire the company, and any bid must now be negotiated with the board rather than made to shareholders directly. The trigger threshold is in the agreement rather than the captured text.
What changed: Revelation Biosciences, Inc. (successor to SPAC Petra Acquisition Inc.) called its 2026 annual meeting for June 24, 2026 at 12:00 p.m. ET by Zoom, record date April 30, 2026, when only 3,908,420 shares of common stock were outstanding. The proxy discloses three reverse stock splits in twelve months: 1-for-16 effected January 28, 2025, after which Nasdaq confirmed on February 19, 2025 that minimum bid price compliance was regained; 1-for-3 effected July 7, 2025 after a June 23, 2025 special meeting; and 1-for-4 effected January 28, 2026. Why it matters: Three reverse splits inside a single year, each undertaken to regain or hold the Nasdaq minimum bid price, is the clearest possible evidence that the share price keeps falling back below $1.00 after every mechanical fix. The share count is down to 3.9 million, so each new financing at a depressed price is proportionally devastating to existing holders and likely forces yet another split. Legacy Petra SPAC holders who converted at the business combination have watched their position compressed by a cumulative factor measured in the hundreds.
going-concern doubtnothing moved · 1 with no prior record of ours
- Going-concern doubt
- stated · unchanged
The clause …“condensed financial statements for March 31, 2026 were issued, which raises substantial doubt about its ability to continue as a going concern. To continue as a going concern, the Company will need, among other things, to raise”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2025-03-06mandate language changed
mandate language, going-concern doubt1 moved · 1 with no prior record of ours
- Mandate language
- We are focusing our time and financial resources in the clin…We are focusing our time and financial resources in the clin…
- Going-concern doubt
- stated · unchanged
The clause …“audited financial statements for December 31, 2025 were issued, which raises substantial doubt about our ability to continue as a going concern. In our own required quarterly assessments, we may continue to conclude that there is”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
What changed: Revelation Biosciences, Inc., the successor to Petra Acquisition Inc., called a special meeting for 12:00 p.m. Eastern Time on March 18, 2026, virtual only, record date January 26, 2026. The single substantive proposal asks holders to approve issuances under Warrants pursuant to an engagement letter dated January 23, 2026, to the extent those issuances may exceed 20% of the company's total outstanding shares and would otherwise trigger the share issuance cap, the Exchange Cap, under Rule 5635(d) of the Nasdaq Stock Market Rules. Why it matters: A standalone vote to lift the Nasdaq 20% Exchange Cap means the warrant block already exceeds a fifth of the company and cannot be issued without shareholder consent. Approving it removes the only structural brake on that dilution. For holders of the former Petra Acquisition equity, with the trust released at the de-SPAC and no floor remaining, the choice is between accepting the dilution and leaving the financing counterparty unable to exercise.
In plain English
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.