NEWS!!! Unfortunately very bad and down she goe

NEWS!!!

Unfortunately very bad and down she goes

Printing $1.53 and falling like a rock

Smart investors know how to read filings and not get their DD off of message boards.

Seems like IBIO has 1 week to get their act together before defaulting on their agreements.

Oh and if they raise any MONey, 40% of it has to go to pay of their debt to Woodforest National Bank. You know, the ones they took out a loan for a measly $22,375,000 Senior Secured Term Loan. Ouch.

Quote:

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In addition, the Company agreed that each time it consummates an at-the-market issuance of Equity Interests (as defined within the Credit Agreement), no later than five (5) days following such issuance of Equity Interests, it will (a) pay to Woodforest in immediately available cash funds, without setoff or counterclaim of any kind, forty percent (40%) of the Net Proceeds (as defined within the Credit Agreement) received by the Company for such issuance of Equity Interests; provided, any such payment would cease upon payment obligations in full and (b) provide Woodforest with a detailed accounting of each such issuance of Equity Interests.

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https://ir.ibioinc.com/sec-filings/content/00...000017.pdf

Quote:

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To fund the remaining cash portion of the transaction, iBio entered into a $22,375,000 Senior Secured Term Loan with Woodforest National Bank.

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https://www.globenewswire.com/en/news-release...ility.html

Facts not PnD opinions.

OINK