iBio Closes Sale of Manufacturing Facility in Texas
iBio, Inc. (IBIO)
NASDAQ:AMEX Investor Relations:
ir.ibioinc.com
Company Research
Source: GlobeNewswire
– The sale of the facility eliminates $13.2M of secured debt – – Completes iBio’s transition to an AI and precision biologics innovation company - SAN DIEGO, June 03, 2024 (GLOBE NEWSWIRE) -- iBio, Inc. (NYSEA:IBIO) (“iBio” or the “Company”), an AI-driven innovator of precision antibody therapeutics, today announced the closing of the sale of its manufacturing facility located in Bryan, Texas (the “Property”) to the Board of Regents of the Texas A&M University System for $8.5 million. Following the issuance of pre-funded warrants having a value of $4.5 million to the lender, Woodforest National Bank, iBio and its wholly owned subsidiary, iBio CDMO LLC, has met all of the conditions of the settlement agreement releasing the Company and its subsidiary of all obligations with respect to the debt secured by the Property. The transaction, coupled with the use of approximately $915K in restricted cash previously held by Woodforest, eliminates approximately $13.2 million in secured debt
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IBIO
News
- iBio Reports Fiscal Year 2024 Financial Results and Provides Corporate UpdateGlobeNewswire
- iBio to Participate in Upcoming Investor ConferencesGlobeNewswire
- iBio Expands Executive Leadership Team with Appointment of Kristi Sarno as Senior Vice President of Business DevelopmentGlobeNewswire
- iBio, Inc. (NYSE: IBIO) is now covered by analysts at Brookline Capital Management. They set a "buy" rating and a $3.60 price target on the stock.MarketBeat
IBIO
Sec Filings
- 9/24/24 - Form 10-K/A
- 9/20/24 - Form 10-K
- 9/20/24 - Form 8-K
- IBIO's page on the SEC website