iBio, Inc. | 2013 | FY | 3

The following table summarizes all warrant activity for the year ended June 30, 2013:
 
 
 
Warrants
 
Weighted-
average
Exercise
Price
 
Outstanding as of June 30, 2012
 
 
20,940,796
 
$
1.39
 
Granted - consulting services
 
 
100,000
 
$
1.00
(1)
Granted - April 2013 equity offering
 
 
3,570,000
 
$
0.53
 
Granted – Anti-dilution adjustment on August 2008 warrants
 
 
785,144
 
$
1.75
 
Outstanding as of June 30, 2013
 
 
25,395,940
 
$
1.23
(2)
 
 
 
 
 
 
 
 
Exercisable as of June 30, 2013
 
 
25,395,940
 
$
1.23
(2)
 
(1) See Note 13 – Share-based Compensation
(2) Includes the effect of reduction in exercise price for previously granted August 2008 warrants.

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