Windtree Therapeutics closes public offering of common stock and warrants for net proceeds of $10.8M

On April 20, 2023, Windtree Therapeutics, Inc. (the “ Company ”), entered into an underwriting agreement (the “ Underwriting Agreement ”) with Ladenburg Thalmann & Co. Inc., as the sole underwriter (the “ Underwriter ”), relating to the issuance and sale in a public offering (the “ Offering ”) of 3,686,006 shares of the Company’s common stock, par value $0.001 per share (the “ Common Stock ”), and accompanying warrants exercisable for an aggregate of 3,686,006 shares of Common Stock (the “ Common Warrants ”), as well as up to 552,900 additional shares of Common Stock and additional Common Warrants to purchase up to an aggregate of 552,900 shares of Common Stock that may be purchased pursuant to a 45-day option to purchase additional securities granted to the Underwriter by the Company, which option was exercised in full.

In connection with the Offering, the Company entered into a Warrant Agency Agreement with Continental Stock Transfer & Trust Company (“ Warrant Agreement ”) pursuant to which Continental Stock Transfer & Trust Company agreed to act as warrant agent with respect to the Common Warrants.