Form 4: IN8BIO Director Graff Amends Warrant Terms, Reducing Exercise Price

Director Jeremy R. Graff reports an amendment to outstanding warrants of IN8BIO, Inc., resulting in a reduced exercise price from $1.50 to $0.45 per share.

Summary

• On April 27, 2025, Jeremy R. Graff, a director of IN8BIO, Inc., reported an amendment to his Series B warrants.
• The amendment involved the deemed cancellation of the 'old' warrant and the grant of a 'replacement' warrant.
• The original warrant, granted on December 13, 2023, had an exercise price of $1.50 per share, which has now been reduced to $0.45 per share.
• Graff holds 2,049 Series B warrants, which are fully vested and exercisable.
• These warrants are part of the 2,049 units purchased on December 13, 2023, at $1.22 per unit, each including one share of common stock, one Series A warrant, and one Series B warrant.

Sentiment

Score: 6

Explanation: The sentiment is neutral to slightly positive. The warrant amendment is beneficial for the director, but its overall impact on the company is unclear without further context.

Positives

• The reduction in the exercise price of the warrants could potentially benefit the holder if the stock price increases above $0.45.

Industry Context

Warrant amendments are not uncommon, especially in smaller companies, and can be used to incentivize directors or employees or to adjust capital structures.

Comparison to Industry Standards

• Comparing this warrant amendment to similar situations in comparable biotech companies would require detailed analysis of their capital structures and compensation practices.
• Without specific details on IN8BIO's peers, a direct comparison is difficult.

Stakeholder Impact

• Shareholders may view the warrant amendment as potentially dilutive if the warrants are exercised in the future.
• The impact on other stakeholders is likely minimal.

Key Dates

Keywords

IN8BIO, warrant amendment, Series B warrants, exercise price, director, Jeremy R. Graff