iBio prices $3.5M underwritten public offering of common stock and warrants

iBio, Inc.

Offering includes 3,365,385 shares (or pre-funded warrants) and Series A/B warrants with $1.04 exercise price.
Net proceeds to the company are approximately $2.9 million, used for operating costs, R&D, working capital, and debt payments.
Closing expected on or about December 9, 2022, subject to customary conditions. H.C. Wainwright is sole book-runner.
Underwriter granted 30-day option to purchase up to an additional 504,807 shares and/or warrants.
Representative’s Warrants issued to purchase 6% of offering shares at $1.30 exercise price, 5-year term.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

iBio, Inc. entered into Underwriting Agreement with H.C. Wainwright & Co., LLC valued at approximately $2.9 million (effective 2022-12-06).

Action: entry
Agreement: underwriting
Counterparty: H.C. Wainwright & Co., LLC
Value: approximately $2.9 million
Effective: 2022-12-06

Exact text from the filing

On December 6, 2022, iBio, Inc. (the “Company”) entered into an underwriting agreement (the “Underwriting Agreement”) with H.C. Wainwright & Co., LLC (“Wainwright”).

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iBio, Inc. filing history →

Source: SEC EDGAR

accession 0001420720-22-000094

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