other material
confidence high
sentiment neutral
materiality 0.65
Windtree enters $35M equity line, issues $350K convertible note and $405K bridge notes
WINDTREE THERAPEUTICS INC /DE/
- Common Stock Purchase Agreement with Seven Knots, LLC allows sales up to $35M (or 19.99% outstanding) over 36 months at up to 5% discount to VWAP.
- Issued $350,000 convertible promissory note as commitment fee; 10% interest, convertible at 20% discount to lowest intraday price.
- Issued $287,500 and $117,647 senior secured bridge notes (10% interest, 15% OID) for $350,000 aggregate net proceeds; mandatory redemption from equity line proceeds.
- Equity line purchases require SEC registration effective and common stock price at or above $0.50; company controls timing and amount.
- Company plans to use proceeds for working capital and general corporate purposes.