iBio Inc (IBIO)

[redspeed]

Air Pump. IBIO had nothing going on. Friday is do or die for IBIO. Woodforest gave IBIO enough chances. If IBIO doesn't come up with a purchase agreement by tomorrow, they default on that loan and it's curtains for IBIO.

In addition, the Company is obligated to (y) deliver to Woodforest an executed copy of a purchase agreement (the “Purchase Agreement”) for the sale of the 130,000 square foot cGMP manufacturing facility in Bryan, Texas, no later than April 14, 2023, and (z) pay to Woodforest a fee in the amount of $75,000 on the
earlier of the date of the closing of the Purchase Agreement, or the Maturity Date (as defined in the Credit Agreement). No assurance can be given that the Company will be able to enter into a Purchase Agreement no later than April 14, 2023, as required by the Fourth Amendment despite ongoing negotiations undertaken for such sale. The failure to enter into a Purchase Agreement no later than April 14, 2023 is an immediate default under the Credit Agreement.

https://ir.ibioinc.com/sec-filings/content/0001420720-23-000022/0001420720-23-000022.pdf