Latest news with #PatrickHorsman
Business Insider
16-07-2025
- Business
- Business Insider
Windtree To Launch BNB Crypto Treasury Strategy With Agreement For $60 Million Investment Led By Build And Build Corp. With Up To $140 Million More In Follow On Subscriptions
WARRINGTON, Pa., July 16, 2025 (GLOBE NEWSWIRE) -- Windtree Therapeutics, Inc. ('Windtree' or the 'Company') (NasdaqCM: WINT) is excited to announce it has entered into a $60 million securities purchase agreement led by Build and Build Corp, with the potential for up to an additional $140 million in gross proceeds in future subscriptions, for total subscriptions of up to $200 million. The proceeds, expected to be in the form of cash, shares of Osprey BNB Chain Trust and BNB, from this financing, upon closing, is to be primarily used to launch a BNB crypto treasury strategy and purchase BNB, positioning Windtree as a leader in the BNB digital asset . Subject to shareholder approval and the satisfaction of other closing conditions, Windtree will become the first NASDAQ-listed company offering direct exposure to the BNB token, the fifth-largest blockchain by market capitalization (over $95 billion). This strategy addresses a critical need for retail and institutional investors seeking regulated access to the Binance ecosystem. This transaction is expected to establish a robust BNB Crypto Treasury Strategy, including custody, security and yield generation, positioning the Company as a pioneer in the BNB and Binance Ecosystem. Build and Build Corp's involvement speaks to its confidence in Windtree's vision to become a leader in BNB, driving transformative opportunities within the rapidly evolving digital asset landscape. "We are thrilled to propose a groundbreaking BNB strategy to the U.S. market," said Patrick Horsman, CFA, Director of Build & Build Corp. "This innovative solution will offer investors targeted exposure to Binance and BNB, addressing what we believe to be a critical gap in the U.S. investment landscape." The Binance Ecosystem is a robust network of products and services anchored by the world's largest cryptocurrency exchange. BNB is a leading cryptocurrency with average daily trading volumes of over $2 billion, making it the largest and most liquid crypto exchange token globally. Additionally, the Binance Smart Chain, ('BSC') supports fast, low-cost transactions and a thriving decentralized finance ('DeFi') ecosystem with thousands of dApps and millions of users. Binance's ecosystem maintains dominant market share in Asia, and the Company expects that it is poised for substantial growth globally and in U.S. markets. "Today marks a pivotal moment for Windtree," said Jed Latkin, Chief Executive Officer of Windtree. "This transaction secures up to $200 million from institutional investors, offering our shareholders a unique opportunity to gain exposure to a BNB-focused crypto treasury strategy." This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities of the Company, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About Windtree Therapeutics, Inc. Windtree Therapeutics, Inc. is a diversified company with several divisions, including a cryptocurrency treasury strategy and two promising therapeutic pipelines for which the Company is actively looking for long-term development partners. About Build and Build Corp Build and Build Corp is a dynamic company established by Patrick Horsman, Joshua Kruger, and Johnathan Pasch, who together bring over 43 years of expertise in hedge funds and digital asset management. The company is backed by prominent investors, including Off The Chain Capital, Kraken, Galaxy, and Silvermine, supporting its mission to deliver innovative solutions in the financial and digital asset sectors. Forward Looking Statements The Company may, in some cases, use terms such as 'predicts,' 'believes,' 'potential,' 'proposed,' 'continue,' 'estimates,' 'anticipates,' 'expects,' 'plans,' 'intends,' 'may,' 'could,' 'might,' 'will,' 'should' or other words that convey uncertainty of future events or outcomes to identify these forward-looking statements. Such statements are based on information available to the Company as of the date of this press release and are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from the Company's current expectations. Examples of such risks and uncertainties include, among other things: risks related to obtaining shareholder approval for the Build and Build Corp transaction and satisfying the other conditions necessary to consummate the transaction and related transactions, which cannot be assured; the Company's risks and uncertainties associated with the success and advancement of its product candidates; the Company's ability to manage costs and execute on its operational and budget plans; risks related to technology transfers to contract manufacturers and manufacturing development activities; delays encountered by the Company, contract manufacturers or suppliers in manufacturing drug products, drug substances, and other materials on a timely basis and in sufficient amounts; risks relating to regulatory requirements; risks related to the size and growth potential of the markets for the Company's product candidates, and the Company's ability to service those markets; the Company's ability to develop sales and marketing capabilities, whether alone or with potential future collaborators; the rate and degree of market acceptance of the Company's product candidates, if approved; the impacts of political unrest, including as a result of geopolitical tension, and any sanctions, export controls or other restrictive actions that may be imposed by the United States and/or other countries which could have an adverse impact on the Company's operations, including through disruption in supply chain or access to potential international clinical trial sites. These and other risks are described in the Company's periodic reports, including its Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K, filed with or furnished to the Securities and Exchange Commission and available at Any forward-looking statements that the Company makes in this press release speak only as of the date of this press release. The Company assumes no obligation to update forward-looking statements whether as a result of new information, future events or otherwise, after the date of this press release.
Yahoo
25-06-2025
- Business
- Yahoo
Wall Street's New Crypto Obsession: $100M Bet to Bring Binance's BNB to Nasdaq
A group of former Coral Capital executives is plotting a bold move that could give public investors direct exposure to the Binance (BNB) ecosystem. Patrick Horsman, Joshua Kruger, and Johnathan Pasch are reportedly close to raising $100 million through a Nasdaq-listed shell company they control, with plans to rename it Build & Build Corporation and start accumulating BNBBinance's native tokenas its primary treasury asset. According to investor materials reviewed by Bloomberg, the fundraising could close within weeks. If the deal lands, it would mark the first time a publicly traded firm anchors its balance sheet to BNB, borrowing a page from Michael Saylor's Bitcoin blueprint, Strategy (NASDAQ:MSTR) Warning! GuruFocus has detected 8 Warning Signs with MSTR. The strategy taps into a wave of crypto accumulation by corporateskicked off by Saylor's firm, which now holds nearly $60 billion in Bitcoin (BTC-USD)and now expanding into alternative tokens. Recent examples include SharpLink's $425 million Ethereum-focused raise led by Consensys, and moves by firms like Janover and Upexi into Solana. But this BNB bet stands out. Binance launched the token in 2017 via an ICO that allocated 80 million tokens to its founding team, including former CEO Changpeng Zhao. Today, BNB sits at a market value of $87 billion, used for fee discounts on Binance and to power transactions across BNB Smart Chaina blockchain favored by crypto games and exchanges. Of course, this all comes with baggage. Binance and Zhao pleaded guilty in late 2023 to violating U.S. AML and sanctions laws, resulting in a $4.3 billion settlement and Zhao stepping down. That said, the regulatory winds may be shifting. Under Trump-era crypto optimism, the SEC recently moved to drop its lawsuit against Binanceoffering a potentially more favorable backdrop for this kind of public-market crypto exposure. If Build & Build pulls it off, it won't just be another crypto stock. It could be the first publicly traded BNB treasurypositioned squarely at the center of the Binance revival narrative. This article first appeared on GuruFocus. Sign in to access your portfolio
Crypto Insight
24-06-2025
- Business
- Crypto Insight
Crypto hedge fund execs to raise $100M for BNB treasury vehicle — Report
Crypto hedge fund executives are reportedly aiming to raise $100 million to invest in Binance's BNB token, in a move seen as mirroring Michael Saylor's Bitcoin treasury strategy. The effort is being led by Patrick Horsman, Joshua Kruger and Johnathan Pasch, who previously served as executives to Coral Capital Holdings, Bloomberg reported Monday. Coral Capital was a venture capital firm acquired by DNA Fund in 2024. According to Bloomberg, the executives plan to complete the fundraising this month and begin accumulating BNB through a newly formed entity called Build & Build Corporation, which seeks to become a Nasdaq-listed company. BNB is the fifth-largest cryptocurrency by total value, with a market capitalization of $87.8 billion, according to CoinMarketCap. As the token of the Binance ecosystem, BNB functions as a utility token and the native asset of the BNB Beacon Chain. In May, asset manager Standard Chartered forecast that BNB could more than double in price this year due to increased network activity. Taking a page out of Michael Saylor's Strategy playbook Bloomberg reported that the soon-to-be-launched Build & Build Corporation is emulating Strategy's Bitcoin allocation strategy, which has enabled the Michael Saylor-led firm to accumulate over 592,000 BTC in the past five years. This includes a fresh $26 million BTC purchase last week despite geopolitical tensions. Several publicly traded companies have adopted similar approaches, adding Bitcoin to their balance sheets and reinforcing the digital asset's growing value proposition. Japan's top Bitcoin treasury firm Metaplanet announced on Monday the additional acquisition of 1,111 BTC, bringing its total holdings to 11,111 BTC. In April, another Bitcoin acquisition vehicle, 21 Capital, emerged from stealth with backing from major players including Cantor Fitzgerald, SoftBank, Tether and Bitfinex. As Cointelegraph reported, Tether and Bitfinex recently moved $3.9 billion in BTC to the newly created firm. Source:
Yahoo
23-06-2025
- Business
- Yahoo
Hedge Fund Veterans Plan $100M BNB Treasury Bet
A group of hedge fund executives are planning to raise $100 million to buy Binance's BNB token through a Nasdaq-listed shell company. Former Coral Capital Holdings partners Patrick Horsman, Joshua Kruger and Johnathan Pasch aim to transform an unnamed public firm into Build & Build Corporation. The company would then begin accumulating BNB as its primary treasury asset, Bloomberg reports. If completed, the deal would mark the first time a public company adopts BNB as a reserve currency, providing stock investors indirect exposure to the token. The move comes amid a growing trend of corporations adopting bitcoin BTC and other cryptos as treasury reserve assets. Publicly-listed companies now hold an estimated 834,779 BTC worth more than $83.8 billion, BitcoinTreasuries data shows. Sign in to access your portfolio
Bloomberg
23-06-2025
- Business
- Bloomberg
Hedge Fund Execs Eye $100 Million for Accumulating BNB Token
A team of crypto hedge fund executives are in advanced talks to raise $100 million for investing in a token linked to Binance Holdings Ltd. through a publicly listed company they control, in the latest spin on the Bitcoin treasury blueprint pioneered by Michael Saylor's Strategy. Former Coral Capital Holdings executives Patrick Horsman, Joshua Kruger and Johnathan Pasch are behind the pitch, according to an investor document reviewed by Bloomberg News. They aim to complete the fundraising this month and then rename the unidentified Nasdaq-listed company Build & Build Corporation and start accumulating the BNB token, the materials show.
