iBio, Inc. (IBIO): M&A transaction — iBio sells Texas facility, eliminates $13.2M debt, completes AI biotech pivot

iBio, Inc.

Sale of Bryan, TX manufacturing facility to Texas A&M Board of Regents for $8.5M cash.
Cash of $8.5M plus $915K restricted cash and $4.5M pre-funded warrant eliminates $13.2M secured debt.
Pre-funded warrant issued to Woodforest Bank for 1,560,570 shares at $0.0001 per share.
CEO Martin Brenner says sale completes transition from CDMO to AI-driven precision biologics company.

item 1.02 item 2.01 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

iBio, Inc. completed a disposition involving The Board of Regents of the Texas A&M University System for $8,500,000 (closed 2024-05-31).

Action: disposition
Counterparty: The Board of Regents of the Texas A&M University System
Consideration: $8,500,000
Closing: 2024-05-31

Exact text from the filing

and together with the Ground Lease, Improvements and Personal Property, collectively, the “Property”). Pursuant to the Purchase and Sale Agreement, iBio CDMO received $8,500,000 from The Board of Regents upon the closing of the sale of Property, which was paid to the Lender as described above. The foregoing description of the Purchase and Sale Agreement

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31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

iBio, Inc. filing history →

Source: SEC EDGAR

accession 0001420720-24-000027

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