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BiomX (PHGE) has shared an announcement.
BiomX Inc. has announced a significant merger with Adaptive Phage Therapeutics, aiming for a tax-free reorganization. This strategic move involves a two-step merger process where APT will first become a wholly-owned subsidiary of BiomX and then merge with a second subsidiary. The completion of this acquisition hinges on meeting customary closing conditions and stockholder approvals. BiomX will issue millions of shares, along with Series X Preferred Stock and warrants as part of the transaction. The deal also includes a private placement expected to generate $50 million, with additional stockholder incentives and lock-up agreements to stabilize post-merger operations. This ambitious acquisition is set to reshape the company’s future, with a keen eye on growth and innovation within the pharmaceutical sector.
For an in-depth examination of PHGE stock, go to TipRanks’ Stock Analysis page.
