Windtree Therapeutics Inc.

10/06/2025 | Press release | Distributed by Public on 10/06/2025 12:27

Material Agreement (Form 8-K)

Item 1.01
Settlement of a disputed Material Definitive Agreement
Settlement of a disputed Purchase Agreement
As previously disclosed, on April 19, 2025, WINT Real Estate, LLC ("WINT LLC"), a wholly owned subsidiary of the Company, entered into an Assignment and Conditional Assumption Agreement (the "Assignment") with Way Maker Growth Fund, LLC ("Way Maker") relating to that certain Purchase and Sale Agreement dated June 28, 2024, as amended (the Purchase Agreement), between Way Maker and TBB Crescent Park Drive LLC ("TBB CPD"). Pursuant to the Purchase Agreement, TBB CPD agreed to sell to Way Maker real property commonly known as the Aubrey, located at 11755 Southlake, Houston, Texas. Pursuant to the terms of the Assignment, Way Maker agreed to assign to WINT LLC its right, title and interest in the Purchase Agreement.
As disclosed on June 24, 2025, TBB CPD provided a notice of termination with respect to the Purchase Agreement to the Company (the "Notice"). The Notice demanded the $3 million in earnest money (the "Earnest Money") held by the escrow agent for the transaction, of which $1,400,000 was paid by the Company with the remainder by Way Maker, be released to TPP CPD. The Company had disputed TPP CPD's entitlement to the Earnest Money.
On September 30, 2025, WINT LLC and TBB entered into a Settlement and Mutual Release Agreement (the "Agreement") which instructs the Escrow Holder to release $750,000 of the Earnest Money to WINT and to release the remaining Earnest Money to TBB. In addition, the parties agree that the Purchase Agreement is validly terminated and WINT has no rights with regard to the Property along with a mutual release of claims as defined in the Agreement.
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