iBio Inc. Raises $15M in Private Placement and Issues Warrants

Ibio Inc (IBIO) has issued an announcement.

iBio, Inc. secured approximately $15.1 million in a private placement deal with institutional and accredited investors, issuing over 2.7 million shares of common stock, pre-funded warrants for nearly 2.6 million shares, and Series E warrants for over 5.2 million shares. The warrants have a five-year term and exercise prices of $0.0001 and $2.64 respectively, with provisions for cashless exercise under certain conditions. The net proceeds, around $14.1 million after expenses, are earmarked for general corporate purposes. The company has also committed to filing a registration statement for the resale of the shares and warrants, while adhering to limitations on additional stock or securities issuance to maintain market stability.

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