BiomX And Water.IO Agree To Updated Zorronet Acquisition Terms

BiomX Inc. (NYSE American: PHGE) ("BiomX" or the "Company"), a company focused on defense, security, and critical infrastructure technologies, today announced an amendment to the promissory note related to its April 2026 acquisition of Zorronet Ltd. from Water.IO Ltd. (TASE: WATR) (“Water.IO”). The amended terms are intended to provide BiomX with additional flexibility for its remaining payments to Water.IO. As part of the amendment, BiomX will issue 800,000 restricted shares of common stock to Water IO in consideration of the extension and in satisfaction of accrued interest, subject to customary conditions, including any required approvals. The revised structure enables BiomX to continue supporting the advancement of Zorronet's technology and business while preserving the remaining cash consideration owed to Water IO under an amended schedule. "This agreement gives us additional flexibility in the timing of our remaining payments at an important stage in Zorronet's development," said Michael Oster, CEO of BiomX. "We believe supporting the company's continued advancement now is the best way to strengthen its long-term potential. Water.IO's decision to accept BiomX equity and revise the cash payment schedule reflects its support for this strategy and further aligns both parties around Zorronet's future success." Zorronet is an Israeli developer of AI-powered command-and-control software that integrates video analytics, drones, sensors, and IoT devices into a unified operational intelligence platform. Its technology enables near real-time detection, classification, and prioritization of threats, and is already deployed with defense forces, rail operators , government customers, and Tier-1 defense OEMs Under the amended terms, the final maturity date of the $1.25 million promissory note held by Water.IO Ltd. has been extended to November 1, 2026. BiomX will make an initial principal payment of $250,000, followed by four equal monthly instalments of $250,000 each. About Zorronet Zorronet Ltd., a BiomX company, develops command-and-control software that helps security and operations teams turn cameras, sensors, drones, and IoT devices into a unified real-time operating picture. The system, which is used in hundreds of sites, uses artificial intelligence and machine learning to detect, classify, and prioritize events, incidents, and potential threats, helping teams understand what is happening and coordinate faster responses. Designed for both defense and civilian security applications, Zorronet's systems are currently used in military sites, critical infrastructure, municipalities, smart cities, industrial facilities, large public venues, and more. By converting large volumes of sensor and system data into clear alerts and recommended actions, Zorronet has been enabling operators to manage and respond to complex activity and threats while reducing false alarms across everything from individual facilities to national borders.