Petra Acquisition, Inc.
PAIC
NASDAQ Capital Market8.32
USD
-0.63
- -
CIK
0001810560
ISIN
US7164211028
CUSIP
716421102
Return %
Stock
S&P500
1Y
- -
18.21
3Y
-21.14
64.38
5Y
-21.14
72.43
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Andreas A. Typaldos
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 5 West 21st Street New York City NY United States of America 10010
- IPO Date
- Nov 16, 2020
- CIK
- 0001810560
- Website
- petraacquisition.com
- Similar Companies
- Business
- Petra Acquisition, Inc. is a special purpose acquisition company (SPAC) established in 2019 and headquartered in New York, New York. The company does not have significant standalone operations; its primary business activity is to effect mergers, share exchanges, asset acquisitions, stock purchases, recapitalizations, reorganizations, or similar business combinations. Petra Acquisition’s initial focus is on target businesses in the healthcare or healthcare-related industry. The company notably completed a business combination with Revelation Biosciences, Inc., a clinical-stage life sciences company focused on developing innate immune system therapeutics and diagnostics. Revelation’s portfolio includes immunologic-based therapies such as REVTx-99 for respiratory diseases, including allergic rhinitis and chronic nasal congestion; REVTx-200, an intranasal immunomodulator designed as an adjunct to vaccinations; and REVDx-501, a rapid home-use diagnostic for respiratory viral infections. Petra Acquisition has engaged in backstop and forward purchase agreements totaling up to $12 million to support the development of Revelation’s pipeline and ensure sufficient working capital post-business combination. These agreements signify the company's strategic shift toward becoming an operating entity through the acquisition of Revelation Biosciences, marking its transition into the healthcare therapeutics and diagnostics sector. Petra Acquisition operates primarily in the United States through its association with Revelation Biosciences and targets healthcare markets focused on immunologic-based disease prevention and treatment. The company remains publicly traded under the ticker symbols PAIC, PAICU, and PAICW on NASDAQ. This latest strategic combination and operational focus on clinical-stage therapeutics and diagnostics represent the most significant recent development for Petra Acquisition, positioning it in the biotechnology and healthcare innovation space after having operated originally as a blank check vehicle for business combinations. The company continues to pursue growth through targeted acquisitions and partnerships in the healthcare industry.