BiomX Inc. Announces $15 Million Registered Direct Offering
Summary
NESS ZIONA, Israel, July 26, 2021 (GLOBE NEWSWIRE) -- BiomX Inc. (NYSE American: 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 purchase price to the Company’s directors and executive officers may be increased in order to comply with NYSE American stock exchange rules. The Company intends to use the net proceeds of the offering to support clinical trials and for general corporate purposes, including working capital. 333-251151) previously filed and declared effective by the Securities and Exchange Commission (the “SEC“) on December 11, 2020. BiomX is a clinical-stage microbiome company developing both natural and engineered phage cocktails designed to target and destroy bacteria that affect the appearance of skin, as well as target bacteria in the treatment of chronic diseases, such as inflammatory bowel disease, primary sclerosing cholangitis, cystic fibrosis, atopic dermatitis and colorectal cancer.