Nasdaq-Listed Windtree Seeks $520M for BNB Reserve Accumulation
Main Idea
Windtree Therapeutics secures up to $520 million in funding to expand its BNB crypto reserves as part of its strategy to diversify its treasury with blockchain-based assets.
Key Points
1. Windtree has entered a Common Stock Purchase Agreement for an equity line of credit (ELOC) of up to $500 million and a separate $20 million stock purchase agreement with Build and Build Corp.
2. 99% of the proceeds from both agreements will be used to acquire BNB, aligning with Windtree’s strategy to diversify its treasury with blockchain-based assets.
3. Windtree has partnered with crypto exchange Kraken to oversee its BNB-focused crypto treasury program.
4. The move reflects a broader trend of companies diversifying their crypto holdings beyond Bitcoin and Ethereum, as seen with Chinese chip maker Nano Labs planning to accumulate up to $1 billion in BNB.
5. BNB recently hit an all-time high of approximately $808.
Description
Publicly listed biotechnology company, Windtree Therapeutics, announced plans to secure up to $520 million in funding to expand its BNB crypto reserves. It disclosed that it has entered a Common Stock Purchase Agreement for an equity line of credit (ELOC) of up to $500 million, alongside a separate $20 million stock purchase agreement with Build and Build Corp. Windtree Advances BNB Treasury Plan According to the press release shared by the company, 99% of proceeds from both agreements are earma...
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