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iBio, Inc. an AI-driven innovator of precision antibody immunotherapies, announces today that it has entered into a securities purchase agreement for a private investment in public equity ("PIPE") financing that is expected to result in gross proceeds to the Company of approximately $15.0 million, before deducting placement agent fees and offering expenses.
Pursuant to the terms of the securities purchase agreement, the Company is selling an aggregate of 5,287,278 shares of common stock (or pre-funded warrant in lieu thereof) and common warrants to purchase up to 5,287,278 shares of common stock at a purchase price of $2.85 per share (or pre-funded warrant in lieu thereof), subject to certain beneficial ownership limitations set by each holder.
– Purchase price of $2.85 represents a premium of 148+% to last close –
Posted In: IBIO
