BiomX Announces $3.0 Million Private Placement - BiomX (AMEX:PHGE)

Core Viewpoint - BiomX Inc. has announced a private placement financing expected to raise approximately $3.0 million to support its bacteriophage programs and general corporate purposes [1][7]. Private Placement Details - The private placement involves the issuance of Series Y Convertible Preferred Stock with a stated value of $1,000 per share, along with warrants, for a total purchase price of $3.0 million [3]. - Each share of Series Y Convertible Preferred Stock will accrue dividends at a rate of 15% per annum, payable quarterly, and has a maturity of one year from the closing date [4]. - The company will issue warrants to acquire up to 3,300,000 shares of common stock, with an initial exercise price of $2.00 and a five-year term [5]. Use of Proceeds - The net proceeds from the private placement will be used to assess opportunities in bacteriophage programs, including BX011 for Staphylococcus aureus infections, and for general corporate purposes [7]. Regulatory and Compliance Information - The securities sold in the private placement have not been registered under the Securities Act of 1933 and were offered in reliance on exemptions from registration requirements [6]. - The company plans to file a registration statement with the SEC to register the resale of shares issuable upon conversion of the Series Y Convertible Preferred Stock and exercise of the warrants [6]. Company Overview - BiomX is a clinical-stage company focused on developing natural and engineered phage therapies to target harmful bacteria for chronic diseases with significant unmet needs [9]. - The company utilizes its BOLT platform to customize phage compositions against proprietary bacterial targets [9].