Windtree Therapeutics Secures $30M Loan Facility
Ticker: WINTW · Form: 8-K · Filed: Jul 10, 2024 · CIK: 946486
| Field | Detail |
|---|---|
| Company | Windtree Therapeutics Inc /De/ (WINTW) |
| Form Type | 8-K |
| Filed Date | Jul 10, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $117,647.05, $117,647.06, $200,000, $1.20 |
| Sentiment | bullish |
Sentiment: bullish
Topics: financing, debt, loan
TL;DR
Windtree just snagged a $30M loan from Hercules Capital to fund its drug development. Initial $10M drawn.
AI Summary
On July 3, 2024, Windtree Therapeutics, Inc. entered into a Loan and Security Agreement with Hercules Capital, Inc. for a term loan facility of up to $30 million. The initial draw of $10 million was made on July 3, 2024, with the remaining $20 million available in two tranches subject to certain milestones.
Why It Matters
This financing provides Windtree Therapeutics with crucial capital to advance its clinical programs, potentially accelerating the development of its novel therapies.
Risk Assessment
Risk Level: medium — The company's reliance on future milestones for full funding and the inherent risks in drug development contribute to a medium risk level.
Key Numbers
- $30.0M — Term Loan Facility (Total potential funding from Hercules Capital.)
- $10.0M — Initial Draw (Amount drawn on July 3, 2024.)
Key Players & Entities
- Windtree Therapeutics, Inc. (company) — Registrant
- Hercules Capital, Inc. (company) — Lender
- $30 million (dollar_amount) — Total term loan facility
- $10 million (dollar_amount) — Initial draw amount
- July 3, 2024 (date) — Date of Loan Agreement and initial draw
FAQ
What is the purpose of the $30 million loan facility?
The loan facility is intended to provide Windtree Therapeutics with capital to advance its clinical programs and for general corporate purposes.
Who is the lender providing the term loan facility?
The lender is Hercules Capital, Inc.
When was the Loan and Security Agreement entered into?
The agreement was entered into on July 3, 2024.
What are the conditions for drawing the remaining $20 million?
The remaining $20 million is available in two tranches, subject to the company achieving certain undisclosed milestones.
What was the initial amount drawn from the facility?
An initial amount of $10 million was drawn on July 3, 2024.
Filing Stats: 1,115 words · 4 min read · ~4 pages · Grade level 12.2 · Accepted 2024-07-10 16:53:26
Key Financial Figures
- $0.001 — h registered Common Stock , par value $0.001 per share WINT The Nasdaq Capital Ma
- $117,647.05 — vestor an aggregate principal amount of $117,647.05 in senior secured notes due 2025 (the "
- $117,647.06 — vestor an aggregate principal amount of $117,647.06 in senior unsecured promissory notes du
- $200,000 — otes"), for aggregate gross proceeds of $200,000, each in a private offering in reliance
- $1.20 — redemption price calculated based upon $1.20 per each $1.00 of the remaining amount
- $1.00 — ce calculated based upon $1.20 per each $1.00 of the remaining amount of the Note sub
Filing Documents
- wint20240710_8k.htm (8-K) — 32KB
- ex_696943.htm (EX-4.1) — 162KB
- ex_696944.htm (EX-4.2) — 199KB
- 0001437749-24-022492.txt ( ) — 612KB
- wint-20240703.xsd (EX-101.SCH) — 3KB
- wint-20240703_def.xml (EX-101.DEF) — 11KB
- wint-20240703_lab.xml (EX-101.LAB) — 15KB
- wint-20240703_pre.xml (EX-101.PRE) — 11KB
- wint20240710_8k_htm.xml (XML) — 3KB
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits The following exhibits are being filed herewith: Exhibit No. Document 4.1 Form of Senior Unsecured Promissory Note due 2025 4.2 Form of Senior Secured Note due 2025 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Date: July 10, 2024 Windtree Therapeutics, Inc. By: /s/ Craig E. Fraser Name: Craig E. Fraser Title: President and Chief Executive Officer