Windtree Therapeutics has announced a new funding of up to $520 million, with 99% of the proceeds allocated for the BNB buyback, marking one of the most significant cryptocurrency treasury moves by a public biotech company.
Windtree Biotechnology Company Intensifies Into Crypto With New BNB Plan
Windtree Therapeutics (NasdaqCM: WINT) is making a strong pivot toward digital assets, announcing a funding package of $520 million almost entirely earmarked for the BNB crypto buyback. The strategy includes a $500 million equity line of credit (ELOC) and a $20 million stock purchase agreement with Build and Build Corp, with 99% of the proceeds allocated to the purchase of BNB.
According to the announcement, ELOC underscores Windtree's ambition to diversify its balance sheet with blockchain-based assets while maintaining its traditional biotech operations. This funding round is part of a broader plan to position Windtree as a hybrid innovator in both the healthcare and digital finance sectors.
“We are excited to integrate these new facilities to support our BNB buyback plans as part of our BNB treasury strategy. The opportunity to have additional funds to purchase more BNB cryptocurrency is crucial to our strategy,” said Jed Latkin, CEO of Windtree.
In conjunction with previously announced initiatives, the company expects its BNB commitment to reach $700 million, marking one of the largest corporate treasury strategies focused on a single altcoin.
Windtree announced that these moves are aimed at enhancing shareholder value, leveraging both the growth potential of BNB and the liquidity of blockchain ecosystems.
