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.
See more data about IBIO stock on TipRanks’ Stock Analysis page.
