BiomX Acquires Majority Stake in LADAR Technology Developer DR. Frucht Systems Ltd.

On April 13, 2026, BiomX Inc. (PHGE) entered into and closed a Stock Purchase & Assignment Agreement (SPA) with Mandragola Ltd to acquire 100% of Mandragola’s 60% stake in DR. Frucht Systems Ltd. (DFSL), making DFSL a majority-owned subsidiary. DFSL specializes in proprietary LADAR-based detection systems and AI algorithms for security and defense applications. The acquisition consideration includes: (i) a $750,000 cash payment; (ii) a $3,000,000 unsecured convertible promissory note with a 9% interest rate and a $12.00 conversion price; (iii) 923,000 shares of common stock; (iv) pre-funded warrants for 923,000 shares; and (v) five-year warrants for 3,692,000 shares at $12.00 per share. Additionally, Mandragola is entitled to a 5% revenue bonus if DFSL achieves annual revenues of $25 million or more starting in fiscal year 2027. Mandragola has also agreed to provide a credit line for DFSL’s development. The issuance of shares and exercise of warrants are subject to stockholder approval, which the company aims to obtain within 120 days.