Windtree Therapeutics issues $200K in senior secured/unsecured notes due 2025 at 10% interest with 15% OID

WINDTREE THERAPEUTICS INC /DE/

Issued $117,647 secured note and $117,647 unsecured promissory note for $200K gross proceeds; 15% original issue discount.
Notes bear 10% annual interest, increasing to 18% upon default; payable monthly in cash.
Maturity July 3, 2025, extendable at holder's option; optional redemption at 120% of remaining amount.
Mandatory redemption from 30% of proceeds if stock sold under equity line of credit.
Secured note has first-priority security interest in all present and after-acquired assets.

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