BiomX Enters $3M Private Investment in Public Equity Financing Agreement

BiomX entered into definitive agreements in connection with a private investment in public equity financing for expected gross proceeds of approximately $3M, before deducting placement agent fees and other offering expenses. H.C. Wainwright & Co. acted as the exclusive placement agent for the private placement. In the Private Placement, the Company agreed to issue and sell shares of its Series Y Convertible Preferred Stock, with a stated value of $1,000 per share, together with warrants with an aggregate stated value of up to $3.3M, for an aggregate purchase price of $3M. Each share of Series Y Convertible Preferred Stock will accrue dividends at a rate of 15% per annum, payable quarterly, and will have a maturity of one year from the closing date. The Series Y Convertible Preferred Stock will be convertible into shares of the Company's common stock, subject to the limitations set forth in the definitive agreements, including the receipt of stockholder approval to the extent required under NYSE American rules. In connection with the Private Placement, the Company will also issue warrants to acquire up to 3,300,000 shares of the Company's common stock. The warrants will have a five-year term and an exercise price initially equal to $2.00, the applicable conversion price of the Series Y Convertible Preferred Stock, subject to certain adjustments if stockholder approval is obtained. The Private Placement is expected to close on or about December 30, subject to the satisfaction of customary closing conditions.