Joint Bookrunner on iBio’s Confidentially Marketed Public Offering

Oppenheimer & Co. Inc. acted as Joint Bookrunner on iBio’s $50.0 Million Confidentially Marketed Public Offering

iBio, Inc. (Nasdaq: IBIO), an AI-driven innovator of precision antibody therapies, announced the closing of its underwritten public offering of the securities for initial gross proceeds of approximately $50 million, before deducting underwriting discounts and commissions and offering expenses. In addition, if all of the Series G Warrants and Series H Warrants are exercised in full for cash, iBio would receive additional gross proceeds of $50 million, before deducting expenses and fees, for total gross proceeds of $100 million before deducting underwriting discounts and commissions and offering expenses. In connection with the offering, iBio issued (i) pre-funded warrants (the “Pre-Funded Warrants”) to purchase 71,540,000 shares of iBio’s common stock, and (ii) accompanying Series G warrants (the “Series G Warrants”) representing the right to purchase (a) 35,770,000 shares of iBio’s common stock, or pre-funded warrants in lieu thereof, and (b) Series H warrants (the “Series H Warrants”) representing the right to purchase 35,770,000 shares of iBio’s common stock, or pre-funded warrants in lieu thereof. The combined public offering price of one Pre-Funded Warrant and one Series G Warrant to purchase (i) one-half of a share of iBio’s common stock, or a pre-funded warrant in lieu thereof, and (ii) one Series G Warrant to purchase one-half of a share of iBio’s common stock, or a pre-funded warrant in lieu thereof, was $0.699. The offering was led by Balyasny Asset Management and included participation from Cormorant Asset Management, Adage Capital Partners LP, Ally Bridge Group, Marshall Wace, Coastlands Capital, SilverArc Capital Management, Vestal Point Capital, and Ausangate Capital.

The net proceeds received from the offering are intended to be used to advance iBio’s preclinical cardiometabolic programs, including IBIO-610, the myostatin and activin A bispecific, and IBIO-600 programs, through key development milestones, as well as to continue to progress its other preclinical pipeline assets, and the balance, if any, to fund iBio’s working capital requirements and for other general corporate purposes.