Windtree up on financing change

 Windtree Therapeutics, Inc. 

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 shares are racing higher Friday after the company requested the withdrawal of its Registration Statement previously filed with the SEC. 

The Details:

Windtree filed the withdrawal request as it does not intend to pursue, at this time, the public offering to which the Registration Statement relates.

The company announced the closing of financing through a private placement of its Series C preferred stock on Monday. 

“We are pleased to announce this private placement and the equity line of credit as they accomplish several important objectives for the company,” said Craig Fraser, CEO.

“First, the private placement delivers needed capital to support company operations, including the active Phase 2b clinical trial for istaroxime in cardiogenic shock. Second, the transaction fully converted and eliminated senior notes, including senior secured notes we used as bridge financing over the past several months eliminating this debt from our balance sheet.” 

https://www.benzinga.com/news/24/07/39984222/whats-going-on-with-windtree-therapeutics-stock