Corporate ActionAug 11, 2026, 04:53 PM
BiomX Seeks Approval for DFSL Acquisition Equity, 1-for-5 to 1-for-20 Reverse Split
AI Summary
BiomX Inc. is seeking stockholder approval for several key proposals at a Special Meeting on August 25, 2026. The primary proposal involves approving the issuance of common stock and convertible securities to Mandragola Ltd. in connection with the acquisition of a 60% interest in Dr. Frucht Systems Ltd. and a $2 million line of credit. Additionally, the company proposes a reverse stock split at a ratio between 1-for-5 and 1-for-20 to address NYSE American listing requirements, following a previous 1-for-19 split in November 2025. Stockholders will also vote on ratifying Barzily & Co. as the independent auditor.
Key Highlights
- Shareholders to vote on equity issuance to Mandragola Ltd. for 60% DFSL acquisition.
- Issuance includes $3,000,000 convertible note, 923,000 restricted shares, and warrants for 4,615,000 shares.
- Approval sought for $2,000,000 Line of Credit from Mandragola, with warrant for 2,000,000 shares.
- Propose reverse stock split at an aggregate ratio of 1-for-5 to 1-for-20.
- Authorized shares to be reduced from 750,000,000 to 150,000,000 post-split.
- DFSL reported $292,000 revenue and $119,000 net loss in 2025.
- Ratify Barzily & Co. as independent registered public accounting firm for fiscal year 2026.
Price Impact
More from PHGE