Windtree Therapeutics Secures Rights To Acquire 436-Unit Multifamily Property In Houston

Windtree Therapeutics, Inc. ("Windtree" or the "Company") (NasdaqCM: WINT), a biotechnology company focused on becoming a revenue generating company and advancing early and late-stage innovative therapies for critical conditions and diseases, is pleased to announce that it has entered an Assignment and Conditional Assumption Agreement with a seasoned real estate investment group pursuant to which it has gained the rights to purchase a 436 unit, multifamily residential property in Houston, Texas. 

The property is expected to contribute consistent rental revenue to the Company while it continues to develop its therapeutic pipeline. The planned acquisition would be effectuated through a separate wholly owned subsidiary division of the Company with the anticipated addition of certain new management. The acquisition is expected to be funded primarily from non-recourse secured mortgage financing, with the balance of the purchase price coming from proceeds of the issuance of preferred stock. The Company's obligation to purchase the property is contingent upon the satisfactory completion of standard property due diligence and finalization of acceptable terms of the financing. The initial planned closing date is May 23, 2025, however, the Company has the option to extend the closing date for two periods of no greater than thirty days each.