secwatch.observer — SEC 8-K summary
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Issuer:     iBio, Inc. (IBIO)
CIK:        0001420720
Form:       8-K
Filed at:   2023-10-10T23:59:59+00:00
Accession:  0001420720-23-000054
Event type: debt
Sentiment:  positive
Materiality: 0.55
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iBio amends credit agreement to access $2M from reserve; reduces cash covenant to $0
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- Seventh Amendment allows iBio CDMO to withdraw up to $1M immediately with $2M min balance; then $750k after Oct 16 with $1.25M min; then $250k after Nov 13 with $1M min.
- Fifth Amendment to Guaranty reduces iBio's unrestricted cash liquidity covenant from $1M to $0.
- iBio to pay Woodforest $20k fee upon earlier of Purchase Agreement closing or Maturity Date.
- Amendments provide iBio increased cash flexibility while maintaining reserve until full repayment.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1420720/000142072023000054/0001420720-23-000054-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1420720/000142072023000054/ibio-20231004x8k.htm
  HTML page:      https://secwatch.observer/filing/0001420720-23-000054

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer