IN8bio, Inc. it has entered into a securities purchase agreement with certain healthcare-focused institutional investors for 11,249,588 units at a price of $1.22 per unit for gross proceeds of $13,724,497.36; 574,241 pre-funded warrants at a price of $1.25 per pre-funded warrant for gross proceeds of $717,801.25; for aggregate gross proceeds of $14,442,298.61 on December 11, 2023. The pre-funded warrants will have an exercise price of $0.0001 per share. The company will also issue series A ordinary warrants to purchase up to 11,823,829 shares and series B ordinary warrants to purchase up to 11,823,829 shares.

The series A ordinary warrants will have an exercise price of $1.25 per share. The series B ordinary warrants will have an exercise price of $1.50 per share. The closing of the private placement is subject to customary closing conditions and is expected to occur on or about December 13, 2023.