Windtree sees major reduction in preferred stock as investors redeem shares

WARRINGTON, Pa. - Windtree Therapeutics, Inc. (NASDAQ:WINT), currently trading at $0.92 with a market capitalization of approximately $11 million, reported Tuesday that investors have chosen to redeem or convert the majority of its Series C and Series D Preferred Stock, significantly reducing the number of outstanding preferred shares. According to InvestingPro analysis, the company’s financial health score indicates challenges ahead, with current assets covering only 25% of short-term obligations.

According to the biotechnology company, only 19 shares of Series C Preferred Stock remain outstanding, representing a 99.3% reduction, while Series D Preferred Stock has been reduced by 68.5% to 1,161 shares. These reductions occurred between April 15 and July 25, 2025. The stock has experienced significant volatility, with InvestingPro data showing a 95% decline year-to-date, though it maintains a relatively moderate beta of 0.7.

Investors redeemed approximately $2.3 million worth of preferred Series C and D shares, which could have been converted into approximately 7.7 million common shares, potentially limiting future dilution.

The company also noted that since announcing its plan to launch a BNB crypto treasury strategy with a $60 million investment agreement led by Build and Build Corp, the price of BNB coin has appreciated over 17%. Windtree has announced further potential investment in this strategy of up to $700 million committed to BNB acquisitions. InvestingPro subscribers have access to 15+ additional key insights about Windtree’s financial health and market performance, crucial for understanding the company’s strategic shifts.

"Windtree has greatly reduced the number of outstanding shares of its Series C Preferred Stock and Series D Preferred Stock, limiting future dilution from preferred conversion vs redemption," said Jed Latkin, Chief Executive Officer of Windtree.

The company’s crypto treasury agreement and investment are subject to stockholder approval. Windtree describes itself as a diversified company with several divisions, including the cryptocurrency treasury strategy and two therapeutic pipelines for which it is seeking long-term development partners.

This information is based on a press release statement from the company.

In other recent news, Windtree Therapeutics has announced significant financial maneuvers to support its BNB cryptocurrency strategy. The company has secured a Common Stock Purchase Agreement for up to $500 million, establishing an equity line of credit (ELOC) to bolster its cryptocurrency treasury strategy. Additionally, Windtree entered into a $200 million stock purchase agreement with Build and Build Corp, with 99% of proceeds from these agreements earmarked for acquiring BNB cryptocurrency. Furthermore, a $60 million securities purchase agreement led by Build and Build Corp has been announced, with potential for up to an additional $140 million in future subscriptions. Windtree has also partnered with Kraken to provide custody, trading, and over-the-counter services for its BNB Crypto Treasury Strategy. This partnership will be finalized following shareholder approval of the securities purchase agreement. In another development, Windtree raised $253,333 through convertible notes and warrants, as detailed in a recent SEC filing. These financial arrangements highlight Windtree’s commitment to its BNB cryptocurrency strategy.

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