iBio, Inc. (IBIO) enters purchase agreement to sell to Lincoln Park Capital 1M shares of common stock

iBio, Inc. (NYSE: IBIO) disclosed:

On May 13, 2020, iBio, Inc. (the “Company”) entered into a purchase agreement (the “Purchase Agreement”), pursuant to which the Company agreed to sell to Lincoln Park Capital Fund, LLC (“Lincoln Park”), and Lincoln Park agreed to purchase 1,000,000 shares of the Company’s common stock, $0.001 par value per share (“Common Stock”), at a price of $1.09 per share for an aggregate purchase price of $1,090,000, pursuant to the Company’s effective shelf registration statement on Form S-3 (Registration No. 333-236735), filed with the Securities and Exchange Commission (the “SEC”) in accordance with the provisions of the Securities Act of 1933, as amended, and declared effective on March 19, 2020, and the prospectus supplement thereto dated May 14, 2020.

The Company is filing the opinion of its counsel, Andrew Abramowitz, PLLC, relating to the legality of the shares of Common Stock to be offered and sold pursuant to the Purchase Agreement, as Exhibit 5.1 hereto. The foregoing description of the Purchase Agreement is qualified in its entirety by the text of the agreement, a copy of which is attached hereto as Exhibit10.1 and incorporated herein by reference.

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