iBio Announces Pricing of $3.5 Million Underwritten Public Offering

BRYAN, Texas, Dec. 06, 2022 (GLOBE NEWSWIRE) — iBio, Inc. (NYSEA: IBIO) (“iBio” or the “Company”), an AI-driven innovator of precision antibody immunotherapies, today announced the pricing of its previously announced underwritten public offering of an aggregate of 3,365,385 shares of its common stock (or pre-funded warrants in lieu thereof), Series A warrants to purchase up to 3,365,385 shares of common stock and Series B warrants to purchase up to 3,365,385 shares of common stock, at a combined public offering price of $1.04 per share (or pre-funded warrants in lieu thereof) and accompanying warrants. The Series A warrants will have an exercise price of $1.04 per share, will be exercisable immediately upon issuance and will expire five years from the date of issuance, and the Series B warrants will have an exercise price of $1.04 per share, will be exercisable immediately upon issuance and will expire twenty-four months from the date of issuance. The closing of the offering is expected to occur on or about December 9, 2022, subject to the satisfaction of customary closing conditions.

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