Windtree to acquire 436-unit Houston multifamily property for ~$43M; issues Series D preferred for $2.5M

WINDTREE THERAPEUTICS INC /DE/

WINT LLC (subsidiary) assigned rights to buy property; advanced $1.4M earnest money to extend closing to May 23, 2025.
Purchase price ~$43M, funded by non-recourse mortgage and preferred stock; two 30-day extensions at $1M each.
Closed private placement of 3,125 Series D Convertible Preferred shares for gross proceeds of ~$2.5M; conversion price $1.368.
Series D pays 10% dividend (18% default), no voting rights, 4.99/9.99% beneficial ownership cap, and multiple redemption options.
Rental revenue expected to support therapeutic pipeline; actively seeking additional revenue-generating acquisitions.

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