Windtree Therapeutics, Inc. announced that it has entered into a Securities Purchase Agreement with the buyers named therein, the company agreed to sell senior convertible notes in an aggregate principal amount of $1,500,000 on April 2, 2024. The Notes have an initial conversion price of $0.3603 which is subject to adjustment upon the occurrence of specified events to no lower than $0.0721, subject to any stock split, stock dividend, stock combination, or other similar transaction involving the Common Stock. The Notes will be senior obligations of the Company.

The Notes will accrue interest at a rate of 10.0% per annum, payable in arrears on the first calendar day of each calendar month, beginning on May 2, 2024, unless an event of default has occurred, upon which interest will accrue at 18.0% per annum. The Notes mature on January 2, 2025 unless earlier converted.