Extracted from this filing and checked against the source text.
Debt Financings
SEC 8-K Item 2.03/2.04
confidence 0.9
iBio, Inc. incurred term loan of $1,071,572 with Loeb Term Solutions LLC at Prime Rate, as quoted in the Wall Street Journal plus 8.5%.
- Instrument
- term loan
- Principal
- $1,071,572
- Counterparty
- Loeb Term Solutions LLC
- Rate
- Prime Rate, as quoted in the Wall Street Journal plus 8.5%
- Event
- incurrence
Exact text from the filing
On January 16, 2024, iBio, Inc. (the “Company”), entered into a credit and security agreement (the “Credit and Security Agreement”) with Loeb Term Solutions LLC, an Illinois limited liability company (“Lender”), for a term loan or equipment line of credit loan (the “Loan”) pursuant to which the Company issued to Lender a term promissory note in the principal amount of $1,071,572 (the “Term Note”) bearing interest at the Prime Rate, as quoted in the Wall Street Journal plus 8.5% (the “Effective Rate”), for proceeds of $1,027,455.23 after payment of $42,862.88 to Lender as an origination fee, $1,172.89 for appraisal costs, and $75.00 for bank wire fees.
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Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.95
iBio, Inc. entered into Credit and Security Agreement with Loeb Term Solutions LLC valued at $1,071,572 (effective 2024-01-16).
- Action
- entry
- Agreement
- credit facility
- Counterparty
- Loeb Term Solutions LLC
- Value
- $1,071,572
- Effective
- 2024-01-16
Exact text from the filing
On January 16, 2024, iBio, Inc. (the “Company”), entered into a credit and security agreement (the “Credit and Security Agreement”) with Loeb Term Solutions LLC, an Illinois limited liability company (“Lender”), for a term loan or equipment line of credit loan (the “Loan”) pursuant to which the Company issued to Lender a term promissory note in the principal amount of $1,071,572
View on SEC.gov