Nasdaq-listed biotechnology company Windtree Therapeutics has begun the necessary procedures to invest in Binance Coin (BNB).
The company announced the signing of a $500 million equity line of credit (ELOC) and an additional $20 million stock purchase agreement. Bringing the total funding to $520 million, the company will use 99% of the funds to purchase BNB.
BNB Coming to Wall Street!
In an official statement, Windtree announced that it had raised $520 million to purchase BNB.
Windtree will be the first NASDAQ company to gain direct exposure to BNB, which has a market capitalization exceeding $105 billion.
“We are excited to add these new capabilities to enable future BNB purchases as part of our BNB treasury strategy. Pending shareholder approval, the opportunity to raise additional funds to purchase more BNB cryptocurrency is vital to our strategy,” said Windtree CEO Jed Latkin.
Apart from Windtree, Chinese company Nano Labs also announced its BNB treasury strategy and made its first purchase.
*This is not investment advice.
