Windtree Therapeutics, Inc. (WINT) Prices 9.23M Share Common Offering at $3.25/Sh

Windtree Therapeutics, Inc. (NASDAQ: WINT), a biotechnology and medical device company focused on advancing multiple late-stage interventions for acute cardiovascular and pulmonary disorders, today announced the pricing of its previously announced public offering of 9,230,500 shares of our common stock, par value $0.001 per share, together with warrants to purchase up to 9,230,500 shares of our common stock. Each share of our common stock is being sold at a public offering price of $3.25 per share of common stock, together with a warrant to purchase one share of common stock. Each warrant will have an exercise price of $3.60 per share, will be exercisable immediately and will expire on the fifth anniversary of the date of issuance. The shares of our common stock and the warrants are immediately separable and will be issued separately, but will be purchased together in this offering.

Windtree expects to receive gross proceeds of approximately $30.0 million, before deducting underwriting discounts and commissions and other estimated offering expenses. All of the shares of common stock and warrants in the offering will be sold by Windtree. The offering is expected to close on March 25, 2021, subject to customary closing conditions.

Windtree intends to use the net proceeds from the proposed offering, together with other available funds, for the continued advancement of its lead product candidate istaroxime, a first-in-class, dual-acting agent being developed to improve cardiac function in patients with acute heart failure as well as in early cardiogenic shock, including for start-up activities for a second phase 2b clinical trial in acute heart failure, and for the development of its other pipeline product candidates and for working capital and general corporate purposes.

Oppenheimer & Co. Inc. and Ladenburg Thalmann & Co. Inc. are acting as joint book-running managers for the offering. National Securities Corporation is acting as the lead manager for the offering.

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