Windtree Therapeutics amends warrants to $0.20/sh, raises ~$1M, issues 9.6M new warrants

WINDTREE THERAPEUTICS INC /DE/

Existing warrants for 4,808,595 shares exercised at reduced price of $0.20, gross proceeds ~$1.0M.
Company issued new warrants to purchase up to 9,617,190 shares at $0.2152, exercisable after 6 months.
New warrants expire 5 years from initial exercise date; beneficial ownership limit 4.99% (up to 9.99% opt-in).
Ladenburg Thalmann served as placement agent, receiving 8% fee plus 1% management fee.
Registration statement for resale of new warrant shares to be filed within 90 days.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

WINDTREE THERAPEUTICS INC /DE/ entered into Inducement Letters with certain holders of Existing Warrants valued at aggregate gross proceeds of approximately $1.0 million (effective 2023-01-20).

Action: entry
Agreement: equity purchase
Counterparty: certain holders of Existing Warrants
Value: aggregate gross proceeds of approximately $1.0 million
Effective: 2023-01-20

Exact text from the filing

On January 20, 2023, Windtree Therapeutics, Inc. (the “Company”) entered into warrant exercise inducement offer letters (the “Inducement Letters”) with certain holders (the “Exercising Holders”) of certain of the Company’s: (i) warrants issued in December 2019 to purchase 78,643 shares of common stock

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38 material agreements filed in the last 30 days. Browse all material agreements →

WINDTREE THERAPEUTICS INC /DE/ filing history →

Source: SEC EDGAR

accession 0001437749-23-001885

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