Form 8-K - Current report
31 Octubre 2023 - 3:05PM
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2023-10-31
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
October 31, 2023
BiomX Inc. |
(Exact Name of Registrant as Specified in its Charter) |
Delaware |
|
001-38762 |
|
82-3364020 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
22 Einstein St., Floor 4
Ness Ziona, Israel |
|
7414003 |
(Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: +972 723942377
n/a |
(Former name or former address, if changed since last report) |
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on
which registered |
Units, each consisting of one share of Common Stock, $0.0001 par value, and one Warrant entitling the holder to receive one half share of Common Stock |
|
PHGE.U |
|
NYSE American |
Shares of Common Stock, $0.0001 par value |
|
PHGE |
|
NYSE American |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
Item 5.02 Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers.
Option Repricing and
Option Exchange
On October 29, 2023,
the Board of Directors (the “Board”) of BiomX Inc. (the “Company”), pursuant to a recommendation of the Compensation
Committee of the Board, approved resolutions concerning options previously granted under the Company’s incentive equity plans as
follows.
Option Repricing
The Board approved a
reduction in the exercise price of each outstanding option to purchase shares of the Company’s common stock with an original exercise
price above $0.69 per share granted under the Company’s 2015 Employee Stock Option Plan (the “2015 Plan”, the “Designated
Options”), to the closing price for the Company’s common stock on October 27, 2023 (the “Option Repricing”). The
Option Repricing includes options held by, among others, the Company’s named executive officers: Chief Executive Officer, Mr. Jonathan
Solomon, with respect to options to purchase 668,552 shares (with original exercise prices ranging from $1.691 to $2.031 per share), and
Chief Development Officer, Dr. Merav Bassan, with respect to options to purchase 189,997 shares (with original exercise price of $9.998
per share).
No other terms of the
Designated Options were modified, and the Designated Options remain subject to the terms and conditions of the 2015 Plan and the agreements
evidencing the Designated Options, which will continue to vest according to their original vesting schedules and will retain their original
expiration dates, provided, however, that none of the Designated Options may be exercised before October 29, 2024. Other than Mr. Solomon,
the members of the Board are excluded from the Option Repricing.
After careful consideration
of various alternatives, the Board determined that the Option Repricing, which is permitted under the terms of the 2015 Plan, was an important
measure in order to serve as an effective retention tool for the Company’s employees, while preserving the Company’s cash
resources. The Option Repricing resets the per share exercise price of the Designated Options so that the exercise prices will more closely
reflect the current value of the Company’s common stock.
Option Exchange
The Board approved an
exchange of all outstanding stock options under the Company’s 2019 Omnibus Long-Term Incentive Option Plan (the “2019 Plan”)
that have an exercise price of $0.69 per share or greater (the “Option Exchange”). The Board believes that the Option Exchange
is an important measure that serves as an effective retention tool for the Company’s employees, while preserving the Company’s
cash resources The Option Exchange includes options held by, among others, the Company’s named executive officers: Chief Executive
Officer, Jonathan Solomon, with respect to options to purchase 501,000 shares (with original exercise prices ranging from $1.41 to $7.02
per share), Chief Development Officer, Dr. Merav Bassan, with respect to options to purchase 147,500 shares (with original exercise prices
of $1.41 and $7.02 per share), and Chief Financial Officer, Ms. Marina Wolfson, with respect to options to purchase 119,250 shares (with
original exercise prices ranging from $1.41 to $7.02 per share). Other than Mr. Solomon, the members of the Board are excluded from the
Option Exchange.
In order to implement
the Option Exchange, the Company will initiate a tender offer (the “Tender Offer”) to pursue an economic repricing, with such
terms and conditions as shall be set forth in the Tender Offer documentation to be filed with the Securities and Exchange Commission.
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|
BIOMX INC. |
|
|
|
October 31, 2023 |
By: |
/s/ Jonathan Solomon |
|
|
Name: |
Jonathan Solomon |
|
|
Title: |
Chief Executive Officer |
v3.23.3
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Oct. 31, 2023 |
Document Type |
8-K
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Document Period End Date |
Oct. 31, 2023
|
Entity File Number |
001-38762
|
Entity Registrant Name |
BiomX Inc.
|
Entity Central Index Key |
0001739174
|
Entity Tax Identification Number |
82-3364020
|
Entity Incorporation, State or Country Code |
DE
|
Entity Address, Address Line One |
22 Einstein St.
|
Entity Address, Address Line Two |
Floor 4
|
Entity Address, City or Town |
Ness Ziona
|
Entity Address, Country |
IL
|
Entity Address, Postal Zip Code |
7414003
|
City Area Code |
+972
|
Local Phone Number |
723942377
|
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Pre-commencement Tender Offer |
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Units, each consisting of one share of Common Stock, $0.0001 par value, and one Warrant entitling the holder to receive one half share of Common Stock |
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Title of 12(b) Security |
Units, each consisting of one share of Common Stock, $0.0001 par value, and one Warrant entitling the holder to receive one half share of Common Stock
|
Trading Symbol |
PHGE.U
|
Security Exchange Name |
NYSEAMER
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Shares of Common Stock, $0.0001 par value |
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Title of 12(b) Security |
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Trading Symbol |
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BiomX (AMEX:PHGE)
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De Abr 2024 a May 2024
BiomX (AMEX:PHGE)
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