redspeed
3 days ago
Prolly should have mentioned of the 21 funds holding IBIO and 251,464 shares, Sabby Management has the majority of those at 176,748
https://www.holdingschannel.com/bystock/?symbol=IBIO
Shabby is a known short and SEC charged them with Naked Shorting. Oh what a surprise financial advisors getting charged.
SEC Charges Investment Adviser and Principal in Abusive Naked Short Selling Scheme - June 12, 2023
https://www.sec.gov/news/press-release/2023-107
It seems after they were charged, they started buying the stocks they 'apparently' shorted. Maybe a way to hedge their 'SEC charges' bets?
Basically subtract out Sabby, there are very little shares held by 'tutes' anymore. Maybe not as smittened by iBio's new CEO Dr. Martin Brenner?
https://fintel.io/i/sabby-management-llc
https://hedgefollow.com/funds/Sabby+Management
redspeed
6 days ago
Check the date. They were already dumping on noob IBIO investors heads even a year before.
JPetroInc
Re: None
Wednesday, June 22, 2022
Post# 26443 of 27521
suspect tutes have been loading at these support levels
Institutional Ownership and Shareholders 2021-03-31
185 total, 177 long only, 1 short only, 7 long/short -
Institutional Ownership and Shareholders 2024-03-31
27 total, 26 long only, 0 short only, 1 long/short -
redspeed
6 days ago
Used to be quite a few until IBIO started diluting so much had to do multiple reverse splits. Now all IBIO has is one little pumper than is down 99.9x%. Ouch!
Date Split Multiple Cumulative multiple
2023-11-29 1:20 x0.05 x0.0002
2022-10-10 1:25 x0.04 x0.004
2018-06-11 1:10 x0.1 x0.1
Institutional Ownership dropped 85% since then
The real story is when you look at the dollars
Institutions used to own $ 79,020,000. Now they own $341,000K
For those that are bad with 'simple math', that is about a 1/2 of 1%. Yikes!
Institutional Ownership and Shareholders 2021-03-31
185 total, 177 long only, 1 short only, 7 long/short -
Institutional Ownership and Shareholders 2024-03-31
27 total, 26 long only, 0 short only, 1 long/short -
redspeed
2 weeks ago
Was there any restrictions on the 5,287,278 shares of common stock or did they dump it on the noob IBIO stock analyst head again between $4-$5?
Fools him every time for years. Couldn't ask for a better foil.
iBio Announces $15.0 Million Private Placement
MARCH 26, 2024 7:35PM EDT
Pursuant to the terms of the securities purchase agreement, the Company is selling an aggregate of 5,287,278 shares of common stock (or pre-funded warrant in lieu thereof) and common warrants to purchase up to 5,287,278 shares of common stock at a purchase price of $2.85 per share (or pre-funded warrant in lieu thereof), subject to certain beneficial ownership limitations set by each holder. The warrants issued in the offering are exercisable six (6) months upon issuance at an exercise price of $2.64 per share and will expire five years from the date of issuance.
redspeed
2 weeks ago
IBIO continues to be hosed. They can't unload that spruce goose CDMO brick in Texas and still owe $12.7 million on that puppy. The loan was $22M so that means they can't even take a $10M bath as no one wants it including the bank. Will IBIO get a Tenth Amendment next month or is it Bah-Bye. What a cash drain this albatross has been to investors and the bankrupt IBIO stock analyst.
Furthermore, on September 15, 2023, iBio CDMO LLC, or iBio CDMO, the Company’s subsidiary, entered into a purchase and sale agreement, dated as of September 15, 2023 (the “Purchase and Sale Agreement”), with Majestic Realty Co., a California corporation, (“Majestic Realty”), which sale if consummated would have allowed the Company to pay all outstanding amounts under the secured term loan with Woodforest National Bank (“Woodforest”) originally issued to iBio CDMO on November 1, 2021, in the amount of $22,375,000 (the “Term Loan”), with an outstanding balance of approximately $12.7 million as of December 31, 2023. On November 7, 2023, the Company received written notice from Majestic Realty of its election to terminate the Purchase and Sale Agreement. Although the Facility is listed for sale, the Company does not currently have a buyer for the Property at a price that will allow us to pay the Term Loan in full. If a sale of the Facility is not consummated prior to the March 29, 2024 maturity date of the Term Loan the Company will not have sufficient funds to repay the Term Loan on its maturity date. In addition, if a sale of the Facility is not consummated at a price at or above the outstanding balance under the Term Loan the Company does not expect to have sufficient funds to repay the Term Loan upon its maturity. There can be no assurance that the Company will be able to sell the Facility or that the Company will be able to sell the Facility for an amount that will allow it to repay all outstanding amounts under the Term Loan.
On March 28, 2024, iBio CDMO LLC, a wholly owned subsidiary of the Company and Woodforest National Bank entered into the Ninth Amendment (the “Ninth Amendment”) to the Credit Agreement, which was entered into on November 1, 2021, as previously amended as of October 11, 2022, February 9, 2023, February 20, 2023, March 24, 2023, May 10, 2023, September 18, 2023, October 4, 2023, and December 22, 2023 (the “Credit Agreement”), which amendment among other things, amends the Credit Agreement to: (i) set the maturity date of the term loan to the earlier of (a) May 15, 2024, or (b) the acceleration of maturity of the term loan in accordance with the Credit Agreement.