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Windtree Therapeutics Inc. (NASDAQ:WINT) announced Tuesday it received notice from The Nasdaq Stock Market LLC that its common stock will be delisted from the Nasdaq Capital Market due to noncompliance with Nasdaq Listing Rule 5550(a)(2). Trading in the company’s shares will be suspended at the open of trading on Thursday.
According to the company’s statement, Windtree expects its common stock to begin trading publicly on the over-the-counter market on Thursday under the symbol “WINT.” The company has applied to be traded on the OTCID tier of the OTC Market, but noted there is no assurance it will be approved for trading on that tier.
Windtree stated that the transition to the OTC Markets will not affect its business or operations. The company will continue to file periodic and other required reports with the Securities and Exchange Commission.
This information is based on a press release statement included in a Form 8-K filing with the SEC.
In other recent news, Windtree Therapeutics, Inc. has reported significant developments concerning its financial strategies and partnerships. The company announced a major reduction in its preferred stock, with Series C Preferred Stock reduced by 99.3% and Series D by 68.5%, following investor conversions and redemptions. Windtree has also secured a Common Stock Purchase Agreement for up to $500 million to establish an equity line of credit, aimed at supporting its cryptocurrency treasury strategy centered on BNB cryptocurrency. Additionally, the company has entered into a $200 million stock purchase agreement with Build and Build Corp, with 99% of the proceeds from both agreements allocated to acquiring BNB cryptocurrency.
Furthermore, Windtree signed a term sheet with the cryptocurrency platform Kraken to provide custody, trading, and over-the-counter services for its BNB Crypto Treasury Strategy. This partnership is contingent upon shareholder approval of a previously announced securities purchase agreement, which could potentially bring up to an additional $140 million in future subscriptions. Windtree has also entered a $60 million securities purchase agreement with Build and Build Corp, with the potential for up to an additional $140 million in future subscriptions, to further its BNB crypto strategy. These developments mark significant steps in Windtree’s efforts to integrate cryptocurrency into its financial operations.
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