iBio Raises $6.2 Million Through Warrant Inducement Transaction

Core Points - iBio, Inc. has entered into an agreement with existing institutional investors to exercise warrants for 5,626,685 shares at a reduced price of $1.11 per share, generating approximately$6.2 million in gross proceeds [1][2] - In exchange for exercising the existing warrants, investors will receive new warrants to purchase up to 11,253,370 shares at an exercise price of $0.86, expiring in five years [2] - The transaction is expected to close around April 30, 2025, pending customary closing conditions [2][3] Financial Details - The gross proceeds from the warrant exercise will be approximately$6.2 million before deducting advisory fees and other expenses [1] - The new warrants allow for the purchase of shares at a significantly lower price compared to the existing warrants [2] Company Overview - iBio, Inc. is a biotech company focused on developing precision antibody therapies using AI and advanced computational biology for various diseases [6] - The company aims to transform drug discovery and accelerate development timelines to address unmet medical needs [6]