Current Report Filing (8-k)
October 22 2019 - 4:36PM
Edgar (US Regulatory)
U.S. SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported):
October 22, 2019 (October 16, 2019)
iBio,
Inc.
(Exact name of registrant as specified in
its charter)
Delaware
(State or jurisdiction of incorporation
or organization)
001-35023
(Commission File Number)
26-2797813
(I.R.S. Employer Identification Number)
600 Madison Avenue, Suite 1601,
New York, NY 10022-1737
(Address of principal
executive offices (Zip Code)
Registrant's telephone number: (302) 355-0650
N/A
(Former name or former address, if changed
since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction
A.2. below):
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Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
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¨
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Soliciting material pursuant to Rule 14a-12 under the
Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b)
under the Exchange Act (17CFR 240.14d-2(b))
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¨
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Pre-commencement communications pursuant to Rule 13e-4(c)
under the Exchange Act (17CFR 240.13e-4(c))
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Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities
Exchange Act of 1934 (§240.12b-2 of this chapter).
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act.
¨ Emerging growth company
Securities registered pursuant to
Section 12(b) of the Act:
Title of each class
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Ticker symbol(s)
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Name of each exchange on which registered
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Common Stock
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IBIO
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NYSE American
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Item 3.01
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Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
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On October 16, 2019, iBio, Inc., a Delaware
corporation (the “Company”) received notice from NYSE American (the “Exchange”) that the Company currently
is below the Exchange’s continued listing standards set forth in Section 1003(a)(ii) of the NYSE American Company Guide,
which applies if a listed company has stockholders’ equity of less than $4,000,000 and has reported losses from continuing
operations and/or net losses in three of its four most recent fiscal years, and Section 1003(a)(iii) of the NYSE American Company
Guide, which applies if a listed company has stockholders’ equity of less than $6,000,000 and has reported losses from continuing
operations and/or net losses in its five most recent fiscal years. The Exchange indicated that a review of the Company shows that
the Company is below compliance with Section 1003(a)(ii) and Section 1003(a)(iii) since it reported stockholders’ equity
of $2.46 million as of June 30, 2019 and net losses in its five most recent fiscal years ended June 30, 2019.
The Company must submit a plan of compliance
to the Exchange by November 15, 2019 advising of actions that it has taken or will take to regain compliance with the Exchange’s
continued listing standards by October 16, 2020. If the Company does not submit a plan of compliance, or if the plan is not accepted
by the Exchange, the Company will be subject to delisting procedures as set forth in Section 1010 and Part 12 of the NYSE American
Company Guide. If the plan is accepted by the Exchange, the Company will be subject to periodic reviews including quarterly monitoring
for compliance with the plan.
The Company is working to provide the Exchange
with a satisfactory plan by November 15, 2019, to show that it will be able to return to compliance with Section 1003(a)(ii) and
Section 1003(a)(iii) of the NYSE American Company Guide by October 16, 2020.
A copy of the press release announcing
these events is attached as Exhibit 99.1 to this Current Report on Form 8-K.
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Item 9.01
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Financial Statements and Exhibits.
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*Filed herewith.
Signatures
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
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IBIO INC.
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Date: October 22, 2019
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By:
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/s/ Robert B. Kay
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Robert B. Kay
Executive Chairman and CEO
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