Windtree raises $3.9M via convertible notes; signs non-binding LOIs for Varian asset sale and Titan acquisition

WINDTREE THERAPEUTICS INC /DE/

Raised $3.1M from DFU convertible note and $800K from other investors; proceeds to retire Titan debt and fund operations.
Issued $6.6M senior note to Standard Waste Services, maturing Jan 2026 or upon Titan acquisition; $1.99M OID.
Signed non-binding LOI to acquire Titan for $35M in preferred stock plus $1.75M bridge loans; break-up fee $8M.
Signed non-binding LOI to sell Varian assets for up to $7M cash/shares plus milestones/royalties; options for $5M.
Received lease default notice for $159,800; also default on Aubrey Agreement risking $1.4M deposit.

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