iBio, Inc. (IBIO), an AI-driven developer of precision antibody therapies, has priced an underwritten public offering of pre-funded warrants for 71.54 million shares and accompanying Series G and Series H warrants, raising approximately $50 million in gross proceeds.
The securities are priced at $0.699 each, with closing expected on or about August 22, 2025.
The pre-funded warrants are immediately exercisable until fully exercised, while the Series G and Series H warrants carry an exercise price of $0.70 per share and may be exercised for cash or on a cashless basis. If fully exercised in cash, the warrants could generate an additional $50 million.
The Series G warrants expire on the earlier of five years from issuance or 30 trading days after iBio announces acceptance of a clinical trial submission. Series H warrants issued upon exercise of the Series G warrants will expire four years from closing.
Proceeds will be used to advance iBio's preclinical cardiometabolic programs, including IBIO-610 and IBIO-600, through key milestones, as well as to progress other pipeline assets and support working capital needs.
Leerink Partners acted as lead bookrunner, joined by LifeSci Capital and Oppenheimer & Co., with Brookline Capital Markets serving as financial advisor.
The offering is being made under iBio's effective shelf registration on Form S-3 via prospectus supplement and base prospectus filed with the SEC.
IBIO currently trades at $0.7329 or 1.3328% lower on the NasdaqCM.
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