On March 26, 2024, iBio Inc, a Delaware-incorporated company listed on the NYSE American under the trading symbol IBIO, announced the entry into a securities purchase agreement with several institutional and accredited investors. The private placement agreement involves the sale of approximately $15.1 million in securities, comprising 2,701,315 shares of common stock, pre-funded warrants to purchase up to 2,585,963 shares, and Series E Common Stock purchase warrants for up to 5,287,278 shares. The Series E Warrants, exercisable six months post-issuance at $2.64 per share, will be valid for five years. The private placement closed on April 1, 2024, with net proceeds of about $14.1 million, intended for general corporate purposes, including research and development and working capital. Chardan Capital Markets, LLC acted as the exclusive placement agent...Show More

On March 26, 2024, iBio Inc, a Delaware-incorporated company listed on the NYSE American under the trading symbol IBIO, announced the entry into a securities purchase agreement with several institutional and accredited investors. The private placement agreement involves the sale of approximately $15.1 million in securities, comprising 2,701,315 shares of common stock, pre-funded warrants to purchase up to 2,585,963 shares, and Series E Common Stock purchase warrants for up to 5,287,278 shares. The Series E Warrants, exercisable six months post-issuance at $2.64 per share, will be valid for five years. The private placement closed on April 1, 2024, with net proceeds of about $14.1 million, intended for general corporate purposes, including research and development and working capital. Chardan Capital Markets, LLC acted as the exclusive placement agent. Additionally, iBio CDMO LLC, a subsidiary of iBio Inc, amended its credit agreement with Woodforest National Bank, setting the term loan maturity to May 15, 2024, or earlier if accelerated. The company also entered into a side letter agreement with Lynx1 Capital Management LP, granting them the right to nominate a director to iBio's Board for a three-year term starting from the 2024 Annual Meeting of Stockholders.