iBio Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

Cover
- Document And Entity Information
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Debt - Credit and Security Agreement (Details)

v3.24.3

Debt - Credit and Security Agreement (Details) - USD ($)		12 Months Ended
	Jan. 16, 2024	Jun. 30, 2024
Debt Instrument [Line Items]
Proceeds from term promissory note		$ 895,000
Credit and Security Agreement \| Loeb Term Solutions \| 2024 Term Note
Debt Instrument [Line Items]
Principal amount borrowed	$ 1,071,572
Proceeds from term promissory note	1,027,455
Origination fee	42,863
Appraisal costs	1,173
Bank wire fees	$ 75
Fee percentage applied to principal prepayments (12 months or less from origination)	4.00%
Fee percentage applied to principal prepayments (12-24 months from origination)	3.00%
Percentage of eligible equipment's liquidation value, threshold for additional lending	80.00%
Monthly payments on debt	$ 30,710	1,205,000
Balloon payment payable (January 2026)	$ 652,060
Interest expense on debt		$ 66,000
Credit and Security Agreement \| Loeb Term Solutions \| 2024 Term Note \| Prime Rate
Debt Instrument [Line Items]
Spread on base interest rate	8.50%
Event of Default \| Loeb Term Solutions \| 2024 Term Note \| Effective Rate
Debt Instrument [Line Items]
Spread on base interest rate	6.00%

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The fee, expressed as a percentage of the total principal amount being prepaid, when a prepayment on the loan balance occurs on, after 12 months, but prior-to 24 months, from the loan origination date.

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