iBio, Inc. Announces Pricing Of $4.5M Public Offering
Portfolio Pulse from Benzinga Newsdesk
iBio, Inc. has announced the pricing of a public offering expected to raise $4.5 million through the sale of 2,250,000 shares and accompanying warrants. The offering includes Series C and D warrants exercisable at $2.00 per share, expiring in two and five years respectively. The closing is anticipated on December 7, 2023, with proceeds aimed at working capital, R&D, trial preparation, employee payments, and potential investments or acquisitions. A.G.P./Alliance Global Partners and Brookline Capital Markets are the placement agents for the offering.
December 05, 2023 | 1:03 pm
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iBio, Inc. is raising $4.5M through a public offering of shares and warrants, with the proceeds intended for corporate purposes and potential strategic investments.
Public offerings often dilute existing shareholders' equity, which can lead to a short-term negative impact on the stock price. However, the intended use of proceeds for growth initiatives may mitigate some of the negative sentiment.
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