Windtree Therapeutics, a Nasdaq-listed biotech firm, has announced plans to purchase up to $700 million worth of BNB, the fifth largest cryptocurrency, following its recent all-time high. The company aims to bolster its balance sheet and has initiated a raise of up to $520 million exclusively for BNB acquisitions, in addition to a previously planned $200 million investment. To facilitate BNB custody, Windtree will partner with the cryptocurrency exchange Kraken. The firm will leverage a $500 million equity line of credit from an unnamed institutional investor and a $20 million stock purchase agreement with Build and Build Corp. BNB recently hit a peak price of $808 before experiencing a decline. The CEO of Windtree, Jed Latkin, emphasized that pending stockholder approval is crucial for expanding the BNB acquisition strategy. The company has seen a significant increase in its stock price, despite a slight downturn recently. This action reflects a growing trend of publicly traded companies diversifying their assets into cryptocurrencies.

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