TechFlow news, on July 25, U.S. biotech company Windtree Therapeutics (Nasdaq: WINT) announced on July 24 that it has signed a common stock purchase agreement worth up to $500 million to establish an equity line of credit (ELOC), along with an additional $20 million stock purchase agreement with Build and Build Corp. The company stated that 99% of the proceeds from these two financings will be used to acquire BNB cryptocurrency, strengthening its innovative cryptocurrency funding strategy.
Windtree CEO Jed Latkin said this move is a key part of the company's diversified financial asset strategy, but the use of the ELOC requires shareholder approval to increase authorized shares of common stock. Previously, Windtree had announced a strategic partnership with cryptocurrency exchange Kraken to provide custody, trading, and OTC services for its BNB.
