NEWARK, Del., April 29, 2013 /PRNewswire/ -- iBio, Inc. (NYSE MKT: IBIO) announced today that the Company closed an underwritten public offering of 8,925,000 shares of the Company's common stock and warrants to purchase 3,570,000 shares of the Company's common stock. The securities were sold as a unit with each unit consisting of one share of common stock and 4/10ths of a warrant to purchase one share of common stock. The public offering price of each unit was $.48 resulting in gross proceeds of approximately $4,284,000 before underwriting discounts and other expenses. iBio plans to use proceeds of the offering for working capital, including further development of iBio's product candidates and proprietary technology, business development and for other general corporate purposes. Roth Capital Partners acted as sole manager for the offering.
The Company also announced today that it terminated its previously disclosed "at-the-market" equity offering ("ATM") program before selling any shares of common stock pursuant to the ATM program.
The units described above were offered by iBio pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission ("SEC"). A prospectus supplement relating to the offering also was filed with the SEC. Copies of the prospectus supplement and accompanying base prospectus relating to the offering may be obtained from Roth Capital Partners, LLC, 888 San Clemente Drive, Newport Beach, CA 92660, (800) 678-9147 or email: firstname.lastname@example.org or by accessing the SEC's website at www.sec.gov.
This press release shall not constitute an o
|SOURCE iBio, Inc.|
Copyright©2012 PR Newswire.
All rights reserved