Windtree Therapeutics Taps $520M to Build BNB Reserves — Is Pharma Going Crypto?
The post Windtree Therapeutics Taps $520M to Build BNB Reserves — Is Pharma Going Crypto? appeared on BitcoinEthereumNews.com. Windtree declared to put 99% of the proceeds earmarked for building a substantial reserve of Binance Coin. The total planned BNB investment could reach $700 million. Meanwhile, the company has partnered with crypto exchange Kraken to handle custody, trading, and OTC services for its BNB holdings. Windtree Therapeutics (WINT), a Nasdaq-listed firm, recently announced its ambitious plans to raise a staggering $520 million and put 99% of its proceeds into building a BNB treasury. In total, the firm plans nearly $700 million for the purchase of BNB, currently the fifth-largest crypto by market cap. This development comes as the demand for crypto as a treasury asset is growing further. As a result, institutions are growing increasingly comfortable with holding altcoins like ETH, SOL, XRP, and BNB in their company treasuries, apart from just Bitcoin. Windtree Therapeutics To Build BNB Reserve Windtree announced on July 24 that it has entered into a financing agreement to raise up to $500 million through the sale of common stock, establishing an equity line of credit (ELOC). This structure allows the company to access capital by selling shares over time, and also offers flexibility similar to a credit facility. Apart from ELOC, Windtree has also signed a $20 million stock purchase agreement with Build and Build Corp. Thus, the overall fundraise potential stands at $520 million. According to the company, 99% of the capital raised will be allocated to building a significant reserve of BNB. This announcement came just as the BNB price touched an all-time high above $800 earlier this week, as mentioned in our earlier report. However, Windtree noted that the company won’t be able to use the ELOC (equity line of credit), which will remain inactive until shareholders approve an increase in the company’s authorized share count. “Pending stockholder approval, the opportunity…
The post Windtree Therapeutics Taps $520M to Build BNB Reserves — Is Pharma Going Crypto? appeared on BitcoinEthereumNews.com.
Windtree declared to put 99% of the proceeds earmarked for building a substantial reserve of Binance Coin. The total planned BNB investment could reach $700 million. Meanwhile, the company has partnered with crypto exchange Kraken to handle custody, trading, and OTC services for its BNB holdings. Windtree Therapeutics (WINT), a Nasdaq-listed firm, recently announced its ambitious plans to raise a staggering $520 million and put 99% of its proceeds into building a BNB treasury. In total, the firm plans nearly $700 million for the purchase of BNB, currently the fifth-largest crypto by market cap. This development comes as the demand for crypto as a treasury asset is growing further. As a result, institutions are growing increasingly comfortable with holding altcoins like ETH, SOL, XRP, and BNB in their company treasuries, apart from just Bitcoin. Windtree Therapeutics To Build BNB Reserve Windtree announced on July 24 that it has entered into a financing agreement to raise up to $500 million through the sale of common stock, establishing an equity line of credit (ELOC). This structure allows the company to access capital by selling shares over time, and also offers flexibility similar to a credit facility. Apart from ELOC, Windtree has also signed a $20 million stock purchase agreement with Build and Build Corp. Thus, the overall fundraise potential stands at $520 million. According to the company, 99% of the capital raised will be allocated to building a significant reserve of BNB. This announcement came just as the BNB price touched an all-time high above $800 earlier this week, as mentioned in our earlier report. However, Windtree noted that the company won’t be able to use the ELOC (equity line of credit), which will remain inactive until shareholders approve an increase in the company’s authorized share count. “Pending stockholder approval, the opportunity…
What's Your Reaction?
