The high profile of Windtree Therapeutics to raise up to $ 200 million for a BNB (BNB) The treasure has become a verification of the reality of the market: the Nasdaq is expelling it from the exchange.
Warrington Biotechnology with headquarters, revealed in a Tuesday presentation that the Nasdaq capital market will suspend the negotiation in its actions as of August 21 after the company did not meet the minimum price of the minimum offer required by the Nasdaq 5550 listing rule 5550(to)(2).
Windree hopes to transition to free sale trade under its existing “Wint” symbol, although it cannot guarantee that the plan will happen, he said in a presentation.
The detachment of Julio de Windtree’s announcement of Windtree that he would become the first company that mentioned Nasdaq to build a BNB treasure.
At that time, the company filed a $ 60 million securities purchase agreement with Blockchain Infrastructure Investor Build and Build Corp., with the potential to climb the program to $ 200 million. The shares increased more than 20% in the negotiation prior to the market after the news last month, but the company could not maintain the important brand of $ 1 to maintain its list.
Windree’s actions fell during most of July and August, quoting 48 cents before the ad.
The movement was positioned as an echo of Michael Saylor’s strategy (Mstr)who has turned his balance into a Bitcoin proxy. But unlike the strategy, which remains a Nasdaq Bellwether, Windree will now be relegated to the OTC markets, which limits its visibility and institutional scope.
The shares fell almost 80% after the company revealed the order of the list and closed to 11 cents.
Read more: Biotech Company Windree to raise up to $ 200 million for BNB treasure
