Windtree Therapeutics Announces Large Reduction of Preferred Series C and D Shares Outstanding by Conversion and Redemption

Investors choose to redeem or convert the majority of Series C and Series D Preferred

99% of outstanding preferred series C shares are redeemed or converted and preferred series D reduced 68.5% in outstanding shares

BNB coin has appreciated over 17% since Windtree announced crypto treasury agreement with Build and Build Corp displaying the underlying demand for the coin globally

WARRINGTON, Pa., July 29, 2025 (GLOBE NEWSWIRE) -- Windtree Therapeutics, Inc. (“Windtree” or the “Company”) (NasdaqCM: WINT), a biotechnology company diversifying its portfolio through strategic initiatives, today announced large reductions in outstanding shares of its preferred series C and D shares. Only 19 preferred series C shares remain.

The majority of the Company’s Series C Convertible Preferred Stock (“Series C Preferred Stock”) and Series D Convertible Preferred Stock (“Series D Preferred Stock”) has been converted or redeemed. 19 shares of Series C Preferred Stock and 1,161 shares of Series D Preferred Stock remain outstanding as of July 25, 2025, representing a 99.3% reduction in the Series C Preferred Stock and a 68.5% reduction in the Series D Preferred Stock between April 15, 2025 and July 25, 2025.

The Company previously announced its plan to launch a BNB crypto treasury strategy with an agreement for $60 million investment led by Build and Build Corp. With Up To $140 Million More In Follow On Subscriptions. Since the announcement, the price of BNB coin has appreciated over 17%. The Company also announced further investment in the treasury strategy of up to $700 million committed to BNB acquisitions, reinforcing its innovative crypto treasury strategy. The agreement and investment are subject to stockholder approval.

“Windtree has greatly reduced the number of outstanding shares of its Series C Preferred Stock and Series D Preferred Stock, limiting future dilution from preferred conversion vs redemption,” said Jed Latkin, Chief Executive Officer of Windtree. “Investors redeemed ~$2.3 million value of preferred series C and D shares which could have been converted into ~7.7 common shares. We are pleased to share this news with our stockholders and look forward to the opportunities Windtree is engaged in to create value.”

See our public filings at . This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

About Windtree Therapeutics, Inc.

Windtree Therapeutics, Inc. is a diversified company with several divisions, including a cryptocurrency treasury strategy and two promising therapeutic pipelines for which the Company is actively seeking long-term development partners.

About Build and Build Corp

Build and Build Corp is a dynamic company established by Patrick Horsman, Joshua Kruger, and Johnathan Pasch, who together bring over 43 years of expertise in hedge funds and digital asset management. The company is backed by prominent investors, including Off The Chain Capital, Kraken, Galaxy, and Silvermine, supporting its mission to deliver innovative solutions in the financial and digital asset sectors.

Forward-Looking Statements

The Company may, in some cases, use terms such as “predicts,” “believes,” “potential,” “proposed,” “continue,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are based on information available to the Company as of the date of this press release and are subject to numerous important factors, risks, and uncertainties that may cause actual events or results to differ materially from the Company’s current expectations. Examples of such risks and uncertainties include, among other things: risks related to the Company’s ability to manage costs and execute on its operational and budget plans; risks related to the regulatory environment for cryptocurrency transactions; and the Company’s ability to develop and maintain its BNB Crypto Treasury Strategy. These and other risks are described in the Company’s periodic reports, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at Any forward-looking statements that the Company makes in this press release speak only as of the date of this press release. The Company assumes no obligation to update forward-looking statements whether as a result of new information, future events, or otherwise, after the date of this press release.

Contact Information:

Eric Curtis