---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-023352"
form_type: "8-K"
ticker: "WINT"
cik: "0000946486"
company_name: "WINDTREE THERAPEUTICS INC /DE/"
filed_at: "2025-07-24T23:59:59+00:00"
generated_at: "2026-05-18T03:02:28.903347+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Windtree secures up to $520M for BNB crypto treasury; 99% of proceeds to buy BNB

## Summary
- Entered Common Stock Purchase Agreement for up to $500M equity line; additional $20M agreement with Build and Build Corp.
- 99% of proceeds from both issuances allocated to acquiring BNB cryptocurrency.
- ELOC requires stockholder approval to increase authorized shares before company can draw.
- Issued $10M convertible promissory note as commitment consideration; 5% interest, matures April 2026.
- Company shifts treasury strategy to focus on BNB, citing potential blockchain value creation.

## SEC filing metadata
- accession: 0001437749-25-023352
- form_type: 8-K
- ticker: WINT
- cik: 0000946486
- company_name: WINDTREE THERAPEUTICS INC /DE/
- filed_at: 2025-07-24T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/946486/000143774925023352/0001437749-25-023352-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/946486/000143774925023352/wint20250723d_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-023352
- JSON: https://secwatch.observer/filing/0001437749-25-023352.json
- Plain text: https://secwatch.observer/filing/0001437749-25-023352.txt

## Key facts
- Debt Financings
  WINDTREE THERAPEUTICS INC /DE/ incurred convertible notes of $10,000,000 at 5% per annum maturing April 23, 2026.
  - Instrument: convertible notes
  - Principal: $10,000,000
  - Rate: 5% per annum
  - Maturity: April 23, 2026
  - Event: incurrence
  source text: the Company issued a convertible promissory note (the “Commitment Note”) to the Purchaser in the amount of $10,000,000. The Commitment Note matures on April 23, 2026 (the “Maturity Date”) and will bear interest at 5% per annum on a 365-day basis, due and payable on the Maturity Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/946486/000143774925023352/0001437749-25-023352-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.