Windtree Therapeutics announces agreement to acquire Titan Environmental

Windtree Therapeutics (WINT) announced a significant step in its drive toward overall profitability through its entry into a binding agreement to acquire Titan Environmental Services, a waste management business with operations in Michigan. As consideration for the transaction, Windtree will issue preferred shares and has secured debt financing to fund the transaction and working capital for the business. Titan Environmental Services will become Windtree Environmental Services and operate as a subsidiary of Windtree. Members of Titan’s current management team will be retained to leverage their extensive experience in the waste management industry. The transaction is expected to close in the 3rd quarter. In the event an agreement cannot be consummated, the Company is entitled to an $8.0 million breakup fee.