---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-25-031178"
form_type: "8-K"
ticker: "WINT"
cik: "0000946486"
company_name: "WINDTREE THERAPEUTICS INC /DE/"
filed_at: "2025-10-16T23:59:59+00:00"
generated_at: "2026-05-17T03:40:20.012578+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Windtree Therapeutics issues $1.6M in senior convertible notes due 2026 with 10% interest and dilutive conversion terms

## Summary
- Issued $1.6M aggregate principal in senior convertible promissory notes due Oct 9, 2026 to institutional investors.
- Notes bear 10% per annum interest, payable monthly starting Nov 5, 2025; principal and accrued interest due at maturity.
- Conversion price set at 90% of lowest sale price over 20 consecutive trading days prior to conversion; subject to automatic adjustment if conversion price < 80% of market price.
- Notes junior to existing June 2025 senior convertible note held by DFU, LLC.
- 25% of gross proceeds from Common Stock Purchase Agreement must prepay notes at 120% premium; full prepayment required upon qualified equity financing of $1M+.

## SEC filing metadata
- accession: 0001437749-25-031178
- form_type: 8-K
- ticker: WINT
- cik: 0000946486
- company_name: WINDTREE THERAPEUTICS INC /DE/
- filed_at: 2025-10-16T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.03, 3.02, 3.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/946486/000143774925031178/0001437749-25-031178-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/946486/000143774925031178/wint20251015_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-25-031178
- JSON: https://secwatch.observer/filing/0001437749-25-031178.json
- Plain text: https://secwatch.observer/filing/0001437749-25-031178.txt

## Key facts
- Debt Financings
  WINDTREE THERAPEUTICS INC /DE/ incurred convertible notes of $1,600,000 with institutional investors at 10% per annum on a 360-day basis maturing October 9, 2026.
  - Instrument: convertible notes
  - Principal: $1,600,000
  - Counterparty: institutional investors
  - Rate: 10% per annum on a 360-day basis
  - Maturity: October 9, 2026
  - Event: incurrence
  source text: On October 9, 2025, Windtree Therapeutics, Inc. (the “Company”) issued to institutional investors (collectively, “Holders” and each a “Holder”) an aggregate principal amount of $1,600,000 in senior convertible promissory notes due 2026 (the “Commitment Notes”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/946486/000143774925031178/0001437749-25-031178-index.htm

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