iBio raises ~$15.1M in PIPE at $2.85/unit (148% premium), extends cash runway through FY2025

iBio, Inc.

Gross proceeds of ~$15.1M from common shares, pre-funded warrants, and Series E warrants at $2.85 per unit.
Net proceeds of ~$14.1M; intended for R&D and working capital, extending cash runway through fiscal 2025.
Series E warrants exercisable after 6 months at $2.64/share for 5 years; $2.85 price represents 148% premium to last close.
Amended credit agreement with Woodforest National Bank, extending term loan maturity to May 15, 2024.
Q3 FY2024 saw exercise of 1,131,500 Class C and 1,006,500 Class D warrants; shares outstanding now 8,515,226.

item 1.01 item 3.02 item 7.01 item 8.01 item 9.01

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 Purchase Agreement with several institutional investors and an accredited investor valued at gross proceeds of approximately $15.1 million (effective 2024-03-26).

Action: entry
Agreement: equity purchase
Counterparty: several institutional investors and an accredited investor
Value: gross proceeds of approximately $15.1 million
Effective: 2024-03-26

Exact text from the filing

On March 26, 2024, iBio, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with several institutional investors and an accredited investor (the “Purchasers”) for the issuance and sale in a private placement (the “Private Placement”) of the following securities for gross proceeds of approximately $15.1 million

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395 material agreements filed in the last 30 days. Browse all material agreements →

iBio, Inc. filing history →

Source: SEC EDGAR

accession 0001420720-24-000015

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