--- title: "BiomX extends $1,250,000 note to November 1, 2026" url: "https://aibio.space/news/biomx-extends-1-250-000-note-november-1-2026/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-07-27" section: "Debt Financing" source: "https://www.sec.gov/Archives/edgar/data/1739174/000121390026082025/ea029942301ex10-1.htm" summary: "BiomX extended a $1,250,000 promissory note held by Water IO Ltd. to November 1, 2026, after a $250,000 payment. The remaining principal is due in four mon" --- By the aibio.space news desk. Sources - [BiomX Inc. 8-K (2026-07-28)](https://www.sec.gov/Archives/edgar/data/1739174/000121390026082025/ea029942301ex10-1.htm) 2026-07-27 # BiomX extends $1,250,000 note to November 1, 2026 BiomX extended a $1,250,000 promissory note held by Water IO Ltd. to November 1, 2026, after a $250,000 payment. The remaining principal is due in four monthly installments of $250,000, and accrued interest is to be settled in 800,000 shares of common stock if approvals arrive. ## Key facts - **News type**: Debt Financing - **Primary source**: [BiomX Inc. 8-K (2026-07-28)](https://www.sec.gov/Archives/edgar/data/1739174/000121390026082025/ea029942301ex10-1.htm) *A city skyline in morning haze. CC0, via rawpixel. The picture shows the field, not the companies named.* BiomX Inc. and Water IO Ltd. signed Amendment No. 1 and Waiver to a promissory note, dated as of July 24, 2026. The company's Form 8-K attaches the amendment as Exhibit 10.1. The original note is dated April 10, 2026, has an original principal amount of $1,250,000, and was issued to Water IO as part of the consideration under a share purchase agreement for the acquisition of ZorroNet Ltd. The amendment is signed for BiomX by Chief Executive Officer Michael Oster and for Water IO by its Chief Executive Officer, Menachem Shalom. The filing names no placement agent or advisor. ## Maturity and payments The amendment extends the maturity date of the note from July 7, 2026 to November 1, 2026, the date of the final installment. Within two business days after the amendment date, BiomX must pay $250,000 in cash on account of principal. The remaining principal is to be repaid in cash in four equal monthly installments of $250,000 each, on August 1, September 1, October 1 and November 1, 2026. The remaining principal continues to bear interest at the short-term Applicable Federal Rate, payable with the final installment. ## Interest in shares Under Section 4, the company is to issue Water IO 800,000 shares of common stock in full satisfaction of all interest accrued on the note through the amendment date. The shares also serve as consideration for the delay in payment and the waiver. The common stock has a par value of $0.0001 per share. The share issuance is conditional. It takes effect only after the NYSE American clears any additional listing application required for the shares, and after both parties confirm in writing that their corporate approvals are complete. For Water IO, those approvals include any required under the Israeli Companies Law, 5759-1999. If those confirmations are not delivered by August 31, 2026, the amendment says the accrued interest becomes payable in cash with the final installment, and the share issuance does not occur. ## The waiver Water IO waives, effective retroactively to July 7, 2026, any default, event of default or right of acceleration arising from the non-payment of the note at its original maturity date. The holder also confirms that the note has not been accelerated and that no default or event of default exists under it after the amendment takes effect. The waiver matters because the note was not paid when it first came due. The amendment says sections 1, 2, 3 and 6 take effect on signing and are not subject to any condition. So the extension and the waiver are in force before the share issuance is settled. ## Securities terms The shares will be issued without registration under the Securities Act of 1933, relying on Section 4(a)(2) and, where applicable, Regulation S. They will be restricted securities under Rule 144 and will carry customary legends. Water IO represents that it is buying for its own account and for investment, and that it is either an accredited investor or not a U.S. person. The amendment grants Water IO no registration rights. ## Other terms The amendment leaves the original note otherwise unmodified and states that it is not a novation. It is governed by the laws that govern the note. ## The acquisition behind the note The note was part of the price BiomX agreed to pay for ZorroNet Ltd. The filing does not describe ZorroNet's business or give the value of the acquisition. ## What comes next The next dated items are the August 1, 2026 installment of $250,000, and the August 31, 2026 deadline for the confirmations that trigger the share issuance. 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Cite as: aibio.space, "BiomX extends $1,250,000 note to November 1, 2026", 2026-07-27, https://aibio.space/news/biomx-extends-1-250-000-note-november-1-2026/