secwatch.observer — SEC 8-K summary
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Issuer:     iBio, Inc. (IBIO)
CIK:        0001420720
Form:       8-K
Filed at:   2024-01-19T23:59:59+00:00
Accession:  0001420720-24-000005
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iBio secures $1.07M term loan from Loeb Term Solutions at Prime+8.5%, collateralized by assets except IP
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- Loan principal $1,071,572; net proceeds ~$1,027,455 after $42,863 origination fee.
- Interest at Prime Rate +8.5%; monthly payments over 4-year amortization, balloon due at 2 years.
- Secured by substantially all assets except filed patent-related IP.
- Personal indemnity guarantees from executives Dr. Martin Brenner and Felipe Duran.
- Prepayment fees: 4% (first 12 months), 3% (second 12 months).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1420720/000142072024000005/0001420720-24-000005-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1420720/000142072024000005/ibio-20240116x8k.htm
  HTML page:      https://secwatch.observer/filing/0001420720-24-000005

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