iBio Announces Closing of $50 Million Public Offering

Core Viewpoint - iBio, Inc. has successfully closed a public offering, raising approximately $50 million initially, with the potential for total gross proceeds of $100 million if all associated warrants are exercised for cash [1][5]. Group 1: Offering Details - The public offering was led by Balyasny Asset Management, with participation from several notable investment firms including Cormorant Asset Management and Adage Capital Partners LP [2]. - iBio issued pre-funded warrants to purchase 71,540,000 shares of common stock, along with Series G and Series H warrants, each representing the right to purchase 35,770,000 shares of common stock [3]. - The combined public offering price for one pre-funded warrant and one Series G warrant was set at $0.699 [3]. Group 2: Warrant Characteristics - The pre-funded warrants are immediately exercisable and will remain so until fully exercised, while the Series G and Series H warrants are also immediately exercisable with an exercise price of $0.70 per share [4]. - The Series G warrants will expire either 30 trading days after a significant trial initiation announcement or five years from the issuance date, whichever comes first [4]. Group 3: Use of Proceeds - iBio plans to utilize the net proceeds from the offering to advance its preclinical cardiometabolic programs, including IBIO-610 and IBIO-600, and to support other preclinical pipeline assets [5]. Group 4: Company Overview - iBio, Inc. is a biotech company focused on developing next-generation biopharmaceuticals for various diseases, leveraging AI and advanced computational biology [8].