Windtree Therapeutics to receive $7.5M in cash, securities

Windtree Therapeutics (WINT) announced that it has signed a letter of intent with TESI, an environmental services company, and Windtree will receive $7.5 million in cash and TESI securities. The companies were engaged on a potential acquisition of Titan Environmental Services, a waste management business with operations in Michigan. The companies mutually agreed to go their separate ways. “Windtree is pleased to have signed this agreement, and we will focus our attention on other opportunities we have targeted as part of our corporate strategy to become a revenue generating company. We already have several companies where we are very close to LOI’s and we look forward to sharing more information on our progress in the very near future,” said Jed Latkin, Chief Executive Officer of Windtree.