Summary by Moomoo AI
iBio Inc, a biotechnology company incorporated in Delaware, has filed a Form D Notice of Exempt Offering of Securities with the SEC, indicating a new notice of an equity offering with the first sale dated 03/26/2024. The filing, signed by CEO Martin Brenner on 04/03/2024, reports a total offering and sold amount of $15,068,745 USD. The offering includes equity, options, warrants, and other rights to acquire securities, with no minimum investment from outside investors. The company has declined to disclose its revenue or aggregate net asset value. Eight investors have already invested in the offering, which is not being made in connection with a business combination transaction. Sales commissions are estimated at $794,124 USD. The proceeds from the offering are proposed to be used as working capital, which may indirectly include payments for salaries to employees, including executive officers. The offering is expected to last no more than one year, and iBio Inc has claimed an exemption under Rule 506(b) of the Securities Act.
