Benzinga | Jul 26, 2021 08:20AM EDT

BiomX Inc. Announces $15M Registered Direct Offering

BiomX Inc. (NYSE:PHGE) ("BiomX" or the "Company"), a clinical-stage microbiome company advancing novel natural and engineered phage therapies that target specific pathogenic bacteria, announced today it has entered into a definitive agreement with institutional investors, all of the Company's directors and certain executive officers for the purchase and sale of an aggregate of 3,750,000 shares of the Company's common stock and warrants to purchase an aggregate of 2,812,501 shares of the Company's common stock in a registered direct offering, for expected gross proceeds of $15 million before deducting placement agent fees and offering expenses and assuming that none of the warrants are exercised.



The securities are being sold at an offering price of $4.00 per share of the Company's common stock and an accompanying warrant to purchase 0.75 of a share of the Company's common stock at an exercise price of $5.00 per share. The warrants will be exercisable six months after the date of issuance and will expire five years from the date such warrant first becomes exercisable. The purchase price to the Company's directors and executive officers may be increased in order to comply with NYSE American stock exchange rules.

The closing of the offering is expected to occur on or about July 28, 2021, subject to the satisfaction of customary closing conditions, including, but not limited to, approval by NYSE American.

Cantor Fitzgerald & Co. and Chardan are acting as placement agents for the offering.