Navigation Links
iBio, Inc. Prices $10 Million Public Offering

NEWARK, Del., Jan. 10, 2012 /PRNewswire/-- iBio, Inc. (NYSE AMEX: IBIO) announced today the pricing of an underwritten public offering of 15,385,000 units at $0.65 per unit for gross proceeds of approximately $10 million.  Each unit consists of one share of common stock and 0.75 of a warrant to purchase one share of common stock.  The warrants will have an exercise price of $0.88 per share, will be exercisable beginning one year and one day from the date of issuance, and will expire on the first anniversary of the date they first become exercisable.  The offering is being made pursuant to an effective registration statement under the Securities Act of 1933, as amended.

iBio plans to use proceeds of the offering for operating costs, including continuing to develop applications of its proprietary technology, business development and for other general corporate purposes.

Roth Capital Partners is acting as sole manager for the offering.  iBio expects to close the transaction, subject to customary conditions, on or about January 13, 2012.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.  The offering will be made only by means of a prospectus supplement and accompanying prospectus, copies of which may be obtained from:

Roth Capital Partners
By Email:
By Fax: 949.720.7227
Or by mail:
888 San Clemente Drive
Newport Beach, CA 92660
ATTN: Equity Capital Markets 

Before any investment, an investor should read the prospectus supplement and the accompanying prospectus, including the information incorporated by reference therein, for more complete information about iBio and this offering.

Separately, as previously disclosed, on November 4, 2011 iBio received notice from NYSE Amex LLC that it was currently below certain of the Exchange's continued listing standards. The Exchange indicated that its review of iBio's Form 10-K for the year ended June 30, 2011, indicates that iBio was not in compliance with Section 1003(a)(iv), which applies if a listed company has sustained losses that are so substantial in relation to its overall operations or its existing financial resources, or its financial condition has become so impaired that it appears questionable, in the opinion of the Exchange, as to whether iBio will be able to continue operations and/or meet its obligations as they mature.

iBio was afforded the opportunity to submit a plan of compliance to the Exchange by November 28, 2011, that demonstrates its ability to regain compliance with Section 1003(a)(iv) of the NYSE Amex Company Guide by January 25, 2012, and iBio submitted that plan on a timely basis. The plan contemplated, among other things, that iBio would complete an equity offering with gross proceeds of approximately $5 million before January 25, 2012 to regain compliance with Section 1003(a)(iv).

On January 4, 2012, the Exchange notified iBio that it had accepted iBio's plan of compliance and granted iBio an extension until January 25, 2012 to regain compliance with the continued listing standards.  iBio will be subject to periodic review by Exchange Staff during the extension period.  Failure to make progress consistent with the plan or to regain compliance with the continued listing standards by the end of the extension period could result in the Company being delisted from the NYSE Amex LLC.

While iBio believes that the public offering described above, if completed, will adequately address the Exchange's concerns, iBio will not be in compliance with the Exchange's listing standards until it completes the offering and the Exchange makes a determination that iBio is in compliance.

About iBio, Inc.iBio develops and offers product applications of its iBioLaunch™ platform, providing collaborators full support for turn-key implementation of its technology for both proprietary and biosimilar products. The iBioLaunch platform is a proprietary, transformative technology for development and production of biologics using transient gene expression in unmodified green plants. The technology has been applied successfully to proteins difficult or impossible to produce with other methods, as well as proteins representative of most important classes of biologic pharmaceuticals. Advantages of the iBioLaunch platform over other systems include enablement of rapid development and validation of modular, scalable, and optionally robotic, multi-product manufacturing facilities; production time measured in weeks instead of months or more; product entry that is unconstrained by traditional process patents; and significantly lower capital and operating costs for comparable production. Further information is available at:

Forward-Looking StatementsStatements included in this news release related to iBio, Inc. may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements involve a number of risks and uncertainties such as competitive factors, technological development, market demand, and the Company's ability to obtain new contracts and accurately estimate net revenues due to variability in size, scope and duration of projects. Further information on potential risk factors that could affect the Company's financial results can be found in the company's Reports filed with the Securities and Exchange Commission.




Investor Contacts:

 Robert Erwin, President

Douglas Beck, CFO
iBio, Inc.

iBio, Inc.



SOURCE iBio, Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. iBio, Inc. Receives Notice from NYSE Amex Staff that Company Currently is Below Certain Continued Listing Standards
2. iBio, Inc. Submits Plan to Satisfy NYSE Amex Continued Listing Standards
3. Beckman Coulter Prices $500 Million Senior Notes Offering
4. Cephalon Prices 5 Million Shares of Common Stock and $435 Million in 2.50% Convertible Senior Subordinated Notes in Public Offerings
5. Idenix Pharmaceuticals Prices Underwritten Offering of Common Stock
6. Pre-Owned Prices on Premium Pharmaceutical Equipment
7. PriceSpective Continues Global Expansion With New San Diego Office
8. PriceSpective Appoints Colasante as a Vice President and Murdoch as a Director
9. Novavax Prices Public Offering of Common Stock
10. NeoStem Prices Public Offering of 5,000,000 Shares of Common Stock
11. BioMed Realty, L.P. Prices Private Offering of $250 Million of 6.125% Senior Unsecured Notes Due 2020
Post Your Comments:
(Date:11/26/2015)... November 26, 2015 ... Accutest Research Laboratories, a leading ... Organization (CRO), has formed a strategic ... - Temple Health for joint work ... (Photo: ) , --> ...
(Date:11/25/2015)...  PharmAthene, Inc. (NYSE MKT: PIP) announced  today that ... plan (Rights Plan) in an effort to preserve the ... Section 382 of the Internal Revenue Code (Code). ... of its NOLs could be substantially limited if the ... 382 of the Code. In general, an ownership change ...
(Date:11/25/2015)... and HOLLISTON, Mass. , Nov. 25, ... HART ), a biotechnology company developing bioengineered organ ... Jim McGorry will present at the LD Micro ... at 2:30 p.m. PT. The presentation will be webcast ... days. Management will also be available at the conference ...
(Date:11/25/2015)... ... November 25, 2015 , ... A long-standing partnership between the ... has been formalized with the signing of a Memorandum of Understanding. , AMA ... Capt. Karl Minter and Capt. Albert Glenn Tuesday, November 24, 2015, at AMA ...
Breaking Biology Technology:
(Date:10/27/2015)... In the present market scenario, security is ... industry verticals such as banking, healthcare, defense, electronic gadgets, ... for secure & simplified access control and growing rate ... of bank accounts, misuse of users, , and so ... laptops, and smartphones are expected to provide potential opportunities ...
(Date:10/27/2015)... Synaptics Inc. (NASDAQ: SYNA ), the leader ... adopted the Synaptics ® ClearPad ® Series ... newest flagship smartphones, the Nexus 5X by LG and ... --> --> Synaptics works closely with ... in the joint development of next generation technologies. Together, ...
(Date:10/26/2015)... and LAS VEGAS , Oct. ... Labs , an innovator in modern authentication and a ... announced the launch of its latest version of the ... enabling organizations to use standards-based authentication that supports existing ... S3 Authentication Suite is ideal for organizations deploying customer-facing ...
Breaking Biology News(10 mins):