UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 2)
iBio, Inc.
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(Name of issuer)
COMMON STOCK, $0.001 PAR VALUE PER SHARE
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(Title of class of Securities)
451033104
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(CUSIP Number)
April 26, 2013
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a
statement on Schedule 13G to report the acquisition
that is the subject of this Schedule 13D, and is
filing this schedule because of Section 240.13d-
1(e), 240.1d-1(f) or 240.13d-1(g), check the
following box. [ ]
*The remainder of this cover page shall be filled
out for a reporting person's initial filing on this
form with respect to the subject class of
securities, and for any subsequent amendment
containing information which would alter the
disclosures provided in a prior cover page.
CUSIP NO. 451033104 Page 2 of 10 Pages
The information required on the remainder of this
cover page shall not be deemed "filed" for the
purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the
liabilities of that section of the Act but shall be
subject to all other provisions of the Act (however,
see the Notes).
CUSIP NO. 451033104 Page 3 of 10 Pages
1. NAME OF REPORTING PERSON
EASTERN CAPITAL LIMITED
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A
GROUP (a) [ ]
(b) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS WC
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN
ISLANDS
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH
REPORTING PERSON
7. SOLE VOTING POWER -0-
8. SHARED VOTING POWER -23,744,000-
9. SOLE DISPOSITIVE POWER -0-
10. SHARED DISPOSITIVE POWER -23,744,000-
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
23,744,000 shares
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11 [ ]
EXCLUDES CERTAIN SHARES
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
11
36.0%
14. TYPE OF REPORTING PERSON
CO
CUSIP NO. 451033104 Page 4 of 10 Pages
1. NAME OF REPORTING PERSON
PORTFOLIO SERVICES LTD.
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A
GROUP (a) [ ]
(b) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS OO
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION CAYMAN
ISLANDS
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH
REPORTING PERSON
7. SOLE VOTING POWER -0-
8. SHARED VOTING POWER -23,744,000-
9. SOLE DISPOSITIVE POWER -0-
10. SHARED DISPOSITIVE POWER -23,744,000-
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
23,744,000 shares
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
[ ]
EXCLUDES CERTAIN SHARES
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
11
36.0%
14. TYPE OF REPORTING PERSON
CO
CUSIP No. 451033104 Page 5 of 10 Pages
1. NAME OF REPORTING PERSON
KENNETH B. DART
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A
GROUP (a) [ ]
(b) [ ]
3. SEC USE ONLY
4. SOURCE OF FUNDS OO
5. CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS
REQUIRED PURSUANT TO ITEMS 2(D) OR 2(E) [ ]
6. CITIZENSHIP OR PLACE OF ORGANIZATION
BRITISH OVERSEAS TERRITORY CITIZEN CAYMAN
ISLANDS
NUMBER OF SHARES BENEFICIALLY OWNED BY EACH
REPORTING PERSON
7. SOLE VOTING POWER -0-
8. SHARED VOTING POWER -23,744,000-
9. SOLE DISPOSITIVE POWER -0-
10. SHARED DISPOSITIVE POWER -23,744,000-
11. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH
REPORTING PERSON
23,744,000 shares
12. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW 11
[ ]
EXCLUDES CERTAIN SHARES
13. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW
11
36.0%
14. TYPE OF REPORTING PERSON
IN
CUSIP NO. 451033104 Page 6 of 10 Pages
ITEM 1. SECURITY AND ISSUER
This Amendment No. 2 to Schedule 13D relates to the
common stock of iBio, Inc. (the Issuer), whose
principal executive offices are located at 9
Innovation Way, Suite 100, Newark, DE 19711.
ITEM 2. REPORTING PERSONS
This Schedule 13D is being filed by Eastern Capital
Limited, Portfolio Services Ltd. and Kenneth B. Dart
(collectively, the Reporting Persons).
Eastern Capital Limited, 10 Market Street #773,
Camana Bay, Grand Cayman, KY1-9006, Cayman Islands,
BWI, a Cayman Islands corporation, is an investment
entity that owns the shares of the Issuer common
stock and warrants to purchase common stock reported
in this Schedule 13D. Kenneth B. Dart and Mark R.
VanDevelde are directors of Eastern Capital Limited.
Portfolio Services Ltd., 10 Market Street #773,
Camana Bay, Grand Cayman, KY1-9006, Cayman Islands,
BWI, a Cayman Islands corporation, is a holding
company which owns all of the outstanding stock of
Eastern Capital Limited. Kenneth B. Dart and Mark R.
VanDevelde are directors of Portfolio Services Ltd.
Kenneth B. Dart, P. O. Box 31300 SMB, Grand Cayman,
Cayman Islands, BWI, a British Overseas Territory
Citizen / Cayman Islands and businessman, is the
beneficial owner of all of the outstanding stock of
Portfolio Services Ltd. Mr. Dart is also the
President of Dart Container Corporation, a
manufacturer of food service products, of 500
Hogsback Road, Mason, MI 48854.
In the last five years, none of the persons listed
above have been convicted in a criminal proceeding
(excluding traffic violations or similar
misdemeanors).
In the last five years, none of the persons listed
above was a party to a civil proceeding of a
judicial or administrative body of competent
jurisdiction.
CUSIP NO. 451033104 Page 7 of 10 Pages
ITEM 3. SOURCE OF FUNDS
The source of funds used to acquire the shares of
the Issuer common stock and warrants was the
working capital of Eastern Capital Limited.
ITEM 4. PURPOSE OF TRANSACTION
The Reporting Persons acquired the Issuer
securities for investments purposes in a registered
public offering.
The Reporting Persons currently have no plans or
proposals which relate to or would result in any
transaction, event or action enumerated in
paragraphs (a) through (j) of Item 4 of Schedule
13D.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER
Item 5(a)-(b)
The numbers shown below include 9,284,000 shares of
the Issuer common stock which may become
outstanding upon the exercise of warrants held by
Eastern Capital Limited that are currently
exercisable.
Eastern Capital Limited beneficially owns 23,744,000
shares of the Issuer common stock, representing
36.0% of the Issuer outstanding common stock.
Eastern Capital Limited has shared voting and
dispositive power of the shares it beneficially owns
with its parent, Portfolio Services Ltd. and Kenneth
B. Dart.
Portfolio Services Ltd., as the owner of all of the
outstanding shares of Eastern Capital Limited,
indirectly beneficially owns 23,744,000 shares of
the Issuer common stock, representing 36.0% of the
Issuer outstanding common stock. Portfolio
Services Ltd. has shared voting and dispositive
power of the shares it beneficially owns.
As a result of Kenneth B. Dart ownership of all of
the outstanding shares of Portfolio Services Ltd.,
he indirectly beneficially owns 23,744,000 shares of
the Issuer common stock, representing 36.0% of the
Issuer outstanding common stock. Kenneth B. Dart
CUSIP NO. 451033104 Page 8 of 10 Pages
has shared voting and dispositive power of the
shares he beneficially owns.
Item 5(c)
On April 26, 2013, as part of an underwritten
registered public offering of securities by the
Issuer, Eastern Capital Limited agreed to purchase
4,460,000 Units at a public offering price of $0.48
per Unit. Each Unit consists of (i) one share of
common stock, par value $0.001 per share, of the
Issuer and (ii) 0.40 of one Warrant to purchase one
share of common stock of the Issuer. The purchase
was effected through Roth Capital Partners LLC,
pursuant to an underwriting agreement entered into
between Roth Capital Partners LLC and the Issuer.
Items 5(d) and (e) - Not applicable
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR
RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE
ISSUER
In addition to the shares of the Issuer common
stock beneficially owned by the Reporting Persons,
the Reporting Persons beneficially own warrants that
may be exercised to acquire an additional 9,284,000
shares of the Issuer common stock. The warrants
were acquired at the same time the Reporting Persons
acquired the Issuer common stock. The warrants
acquired through the April 26, 2013 offering are
exercisable as of April 26, 2013 and allow the
Reporting Persons to acquire one share of the
Issuer common stock for each warrant exercised, at
a strike price of $0.53 per share. The warrants
expire pursuant to their terms on April 26, 2016.
A copy of the form of warrant is filed as Exhibit
4.1 to the Form 8-K Filing of the Issuer as filed
with the SEC on April 23, 2013 and
is incorporated by reference herein.
ITEM 7. MATERIAL TO BE FILED AS EXHIBITS
Exhibit A - Joint Filing Agreement
Exhibit B - Form of Warrant
CUSIP NO. 451033104 Page 9 of 10 Pages
SIGNATURE.
After reasonable inquiry and to the best of my
knowledge and belief, I certify that the
information set forth in this statement is true,
complete and correct.
EASTERN CAPITAL LIMITED
/s/ Kenneth B. Dart
BY: Kenneth B. Dart, Director
30 April 2013
PORTFOLIO SERVICES LTD.
/s/ Kenneth B. Dart
BY: Kenneth B. Dart, Director
30 April 2013
/s/ Kenneth B. Dart
BY: Kenneth B. Dart
30 April 2013
CUSIP NO. 451033104 Page 10 of 10 Pages
EXHIBIT A
JOINT FILING AGREEMENT
The undersigned agree to the joint filing of
Schedule 13D (including any and all amendments
thereto) with respect to the shares of common stock
of iBio, Inc. The undersigned further agree and
acknowledge that each shall be responsible for the
timely filing of such amendments, and for the
completeness and accuracy of the information
concerning it contained therein, but shall not be
responsible for the completeness and accuracy of the
information concerning the other, except to the
extent that it knows or has reason to believe that
such information is inaccurate.
EASTERN CAPITAL LIMITED
/s/ Kenneth B. Dart
BY: Kenneth B. Dart, Director
30 April 2013
PORTFOLIO SERVICES LTD.
/s/ Kenneth B. Dart
BY: Kenneth B. Dart, Director
30 April 2013
/s/ Kenneth B. Dart
BY: Kenneth B. Dart
30 April 2013