iBio Enters $15 Million Private Placement

March 27, 2024

DENVER, Colo., Mar 27, 2024 (247marketnews.com)- iBio, Inc. (NYSEA:IBIO) reported, after yesterday’s market close, that it entered into a private investment in public equity (“PIPE”) financing that is expected to generate approximately $15 million, before deducting placement agent fees and offering expenses, with institutional and accredited investors

the $2.85 purchase price represents a 148% premium to yesterday’s close  and the proceeds are expected to extend its operating plan cash runway through fiscal year 2025.

“We appreciate the support of this outstanding group of healthcare specialist investors that shares the vision of leveraging our cutting-edge AI/Machine learning platform to deliver best-in-class drugs,” said iBio’s Chief Executive Officer and Chief Scientific Officer, Martin Brenner, DVM, Ph.D.

IBIO is trading at $1.84, up $0.69 (+60.00%), on 3.67M shares.

Its 52-week range is $1.0214 to $49.00. It has a big gap from early December to around the PIPI exercise price and gaps often tend to refill. This triggered our alerts in yesterday’s afterhours session and this morning’s premarket high is $2.29.

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