Windtree Therapeutics Inc. has entered into a new financing arrangement by issuing an aggregate principal amount of $1.6 million in senior convertible promissory notes due 2026 to institutional investors. The notes were issued in connection with the termination and settlement of prior agreements related to a real estate transaction involving its subsidiary, WINT Real Estate, LLC, and Way Maker Growth Fund, LLC. The notes accrue interest at 10% per annum and mature on October 9, 2026. They are junior to the company's June 2025 convertible promissory note issued to DFU, LLC, which has priority over other company indebtedness. The notes are convertible into Windtree's common stock at the holders' option, with a beneficial ownership limitation, and are subject to prepayment terms in connection with any qualified equity financing.