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Windtree Therapeutics prices $20m offering

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Windtree TherapeuticsWindtree Therapeutics (OTCQB:WINT) announced today that it priced a public offering of common stock worth approximately $20 million.

The Warrington, Pa.-based company’s offering includes more than 2.7 million units of common stock at $7.25 per unit. Each unit consists of one share of common stock and one warrant to purchase one share of common stock at an exercise price of $7.975 per share, according to a news release.

Windtree’s warrants are exercisable for five years from the date of issuance and will be issued separately, with the company expecting gross proceeds of $20 million. Windtree intends to use the proceeds to advance its study of the KL4 surfactant for treating COVID-19-related lung injury, as well as for istaroxime Phase 2 start-up activities, the clinical development of Aerosurf for respiratory distress syndrome, pre-clinical studies of its oral SERCA2a activators for business development and other general purposes.

The company is also granting underwriters a 45-day option to purchase up to 413,793 additional shares of common stock and/or warrants to purchase up to 413,793 additional shares, or any combination of the two. Windtree expects the offering to close on May 22.

Ladenburg Thalmann & Co. Inc. is acting as sole book-running manager for the offering. National Securities Corporation is acting as the lead manager for the offering.

In connection with the offering, Windtree said its common stock has been approved for listing on the Nasdaq Capital Market. It began trading under the symbol “WINT” today.

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