Institutional Investors Exercise iBio Warrants At Reduced Exercise Price Of $1.11/Shr Resulting In Gross Proceeds Of About $6.2M

Author: Benzinga Newsdesk | April 29, 2025 01:47pm

iBio, Inc. (NASDAQ:IBIO) ("iBio" or the "Company"), an AI-driven innovator of precision antibody therapies, announces today announced that it has entered into an agreement with institutional investors that are existing holders of warrants to purchase shares of common stock of the Company for cash (the "Existing Warrants"), wherein the investors agreed to exercise the Existing Warrants to purchase 5,626,685 shares of common stock at a reduced exercise price of $1.11 per share, resulting in gross proceeds of approximately $6.2 million, before deducting advisory fees and certain other expenses. The Company intends to use the net proceeds for working capital and other general corporate purposes.

Posted In: IBIO