Very publicized plan of Windtree Therapeutics to collect up to $ 200 million for a BNB (BNB) The treasure executed headlong in a verification of the reality of the market: the Nasdaq launches it from the exchange.
Biotechnology based in Warrington, Pennsylvania, revealed a Tuesday depositing that the Nasdaq capital market suspend the trade in its shares as of August 21 after the company did not reach the minimum price of $ 1 required under rule 5550 of the registration of the NASDAQ 5550(A)(2).
Windtree plans to switch to over-the-counter exchanges under its existing “Wint” symbol, although it cannot guarantee that the plan will take place, he said in a file.
The delimitation saps the July announcement of Windtree that it would become the first company listed in Nasdaq to build a BNB treasure.
At the time, the company unveiled a 60 million dollars purchase agreement with Blockchain Investor Build and Build Corp. Blockchain, with the potential to reduce the program to $ 200 million. Actions increased by more than 20% in pre-commerce exchanges after the news last month, but the company could not maintain the significant brand at $ 1 to maintain its rating.
Windtree’s shares fell most of the end of July and August, trading at 48 cents before the announcement of the radiation.
This decision was positioned as an echo of Michael Saylor’s strategy (MSTR)which transformed its balance sheet into a Bitcoin proxy. But unlike the strategy, which remains a Nasdaq Bellwether, Windtree will now be relegated to the over -the -counter markets, limiting its visibility and institutional scope.
The shares fell by almost 80% after the company revealed the order of radiation and closed at 11 cents.
Read more: Biotech Company Windtree to collect up to $ 200 million for BNB Treasury
