Form 4: In8bio, Inc. Sees Changes in Beneficial Ownership Following Private Placement
SEC Form 4
A recent SEC filing reveals changes in beneficial ownership of In8bio, Inc. stock following a private placement involving Bios Clinical Opportunity Fund, LP and amendments to existing warrants.
Summary
- This SEC Form 4 filing reports changes in beneficial ownership of In8bio, Inc. (INAB) stock.
- The filing is related to a private placement where Bios Clinical Opportunity Fund, LP (Bios COF) purchased 709,040 units from In8bio at $0.3949 per unit on October 4, 2024.
- Each unit consisted of one pre-funded warrant to purchase one share of common stock at $0.0001 per share and one Series C warrant to purchase one share of common stock at $0.27 per share.
- Existing Series A warrants held by Bios COF were amended on October 4, 2024, to reduce the exercise price and extend the termination date to October 4, 2024.
- The filing also details indirect ownership of common stock and derivative securities by various Bios Equity Partners entities, including Bios Fund III, Bios Fund II, and BIOS Incysus Co-Invest I, LP.
- Leslie W. Kreis, Jr., a director and 10% owner, is among the reporting persons.
- The filing is split into two parts due to the SEC's limit of 10 reporting persons per form; the other part is filed by Mr. Fletcher.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The filing primarily reports transactions and changes in ownership, without expressing explicit positive or negative views. The capital raise is a positive, but the overall impact is difficult to assess without further context.
Industry Context
Form 4 filings are a routine part of the regulatory landscape for publicly traded companies, providing transparency into the transactions of company insiders and major shareholders. This filing indicates continued investment and involvement by Bios Equity Partners in In8bio.
Comparison to Industry Standards
- Private placements are a common method for biotech companies like In8bio to raise capital.
- Warrant structures, including pre-funded warrants, are frequently used in these placements to attract investors.
- The exercise prices and terms of the warrants are typical for early-stage biotech companies.
Related Party Transactions
- The private placement with Bios Clinical Opportunity Fund, LP is a related party transaction due to the existing relationship and ownership stakes.
Stakeholder Impact
- The private placement could dilute existing shareholders.
- The new capital may support the company's operations and development programs.
Key Dates
| Date | Description |
|---|---|
| 12/13/2023 | Initial issuance date of Series A warrants to Bios COF |
| 07/15/2023 | Commencement date for vesting of shares subject to options granted to Travis Whitfill |
| 09/30/2024 | Date of the Securities Purchase Agreement between In8bio, Inc. and Bios Clinical Opportunity Fund, LP |
| 10/04/2024 | Date of the private placement and amendment of Series A warrants |
| 10/04/2027 | Expiration date of Series C Warrants |
| 03/11/2029 | Expiration date for some stock options |
| 07/29/2031 | Expiration date for some stock options |
| 06/01/2032 | Expiration date for some stock options |
| 06/15/2033 | Expiration date for some stock options |
| 10/11/2024 | Date of the Form 4 filing |
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