 
 
Bio-tech company Windtree Therapeutics is on the cusp of increasing its crypto treasury bet. The firm announced two funding agreements worth $520 million to finance the purchase of BNB tokens in the coming weeks. This follows recent moves by the company as well as similar acquisitions from publicly listed firms.
Windtree Earmarks Total $700 BNB Treasury
The company plans to diversify its portfolio with additional strategic crypto deals. According to a recent release, Windtree closed a $500 million common stock purchase agreement for an equity line of credit (ELOC) and an additional $20 million from Build and Build Corp.
Approximately 99% of the proceeds will be channeled into BNB purchases, as interest in crypto assets continues to soar. Patrick Horsman, a Director at Build and Build Corp, wrote that a BNB reflects the company’s interest in value creation, offering funding flexibility to scale investments. For Windtree, CEO Jed Latkin expressed delight as the corporate crypto reserve takes shape.
“We are excited to incorporate these new facilities to enable our future BNB acquisitions as part of our BNB treasury strategy. Pending stockholder approval, the opportunity to secure additional funds for purchasing more BNB cryptocurrency is essential to our strategy.”
Last week, Windtree announced a $60 million investment, which could be raised to $200 million to acquire BNB. This makes it among the first publicly listed companies to offer exposure to the digital asset. BNB is the utility token of Binance, the largest centralized digital asset exchange, a milestone that attracts more traditional investors.
 
Based on projections of growing volumes, BNB is pivotal to most companies’ crypto investments. At the time of writing, BNB trades at $783, gaining a slight 1.8% today, which extends the seven-day inflow above 7%. BNB gained momentum from the wider market’s rally and improved on-chain factors.
Overall, analysts predict a sustained rally, followed by a slight short-term correction due to profit-taking, as altcoins surge. Furthermore, the asset is expected to rank as a major winner from the altcoin season after funds flow out of Bitcoin.
It should be noted that several BNB reserves are modeled after accumulation firms for Bitcoin and Ethereum. Strategy’s BTC purchases this month take its total holdings to 607,770, worth approximately $71 billion. The largest BTC treasury company recently announced a $2.4 billion stock offering to purchase more assets.
Source: https://zycrypto.com/windtree-therapeutics-to-boost-bnb-holdings-after-520-million-funding/