secwatch.observer — SEC 8-K summary
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Issuer:     iBio, Inc. (IBIO)
CIK:        0001420720
Form:       8-K
Filed at:   2024-05-20T23:59:59+00:00
Accession:  0001420720-24-000023
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

iBio sells Texas property to Texas A&M for $8.5M; issues 1.56M share warrant to settle Woodforest debt
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- iBio CDMO sells Texas A&M property for $8.5M; closing by May 31, 2024.
- Credit agreement balance $13.1M; maturity accelerated to May 31, 2024.
- Settlement: sale proceeds to Woodforest; pre-funded warrant for 1,560,570 shares issued at $0.0001/share to cover $4.5M deficiency.
- Warrant issued unregistered under Regulation D; NYSE American approval required.
- Texas A&M board approval already obtained; closing subject to title policy.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1420720/000142072024000023/0001420720-24-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1420720/000142072024000023/ibio-20240514x8k.htm
  HTML page:      https://secwatch.observer/filing/0001420720-24-000023

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