Loan & DebtJul 28, 2026, 09:19 AM
BiomX Amends Zorronet Acquisition Note; Issues 800K Shares
AI Summary
BiomX Inc. announced an amendment to the promissory note related to its April 2026 acquisition of Zorronet Ltd. from Water.IO Ltd. The revised terms provide BiomX with additional flexibility for its remaining payments, including the issuance of 800,000 restricted shares to Water.IO for the extension and accrued interest. The final maturity date for the $1.25 million note has been extended to November 1, 2026, with an initial $250,000 payment followed by four equal monthly installments.
Key Highlights
- BiomX amended the promissory note for its April 2026 acquisition of Zorronet Ltd.
- BiomX will issue 800,000 restricted shares of common stock to Water.IO Ltd.
- Shares are in consideration for the extension and satisfaction of accrued interest.
- Final maturity date of the $1.25 million promissory note extended to November 1, 2026.
- BiomX will make an initial principal payment of $250,000.
- Followed by four equal monthly installments of $250,000 each.
Price Impact
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