secwatch.observer — SEC 8-K summary
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Issuer:     GT Biopharma, Inc. (GTBP)
CIK:        0000109657
Form:       8-K
Filed at:   2022-08-30T23:59:59+00:00
Accession:  0001493152-22-024422
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

GT Biopharma settles $6.5M Cytovance debt with stock and cash; aims for IND filings by Mar/Jun 2023
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- Issued 1,222,281 shares to Cytovance to settle $3.25M of invoices; will pay another $3.25M in cash over three months.
- Future invoices paid 50% cash and 50% in common stock at closing price; materials invoices all cash.
- Cytovance to facilitate GTB-3650 IND by March 31, 2023 and GTB-5550 IND by June 30, 2023, subject to conditions.
- Cytovance ownership capped at 4.9% of outstanding; daily resale limited to 50k shares or 1/3 of avg weekly volume.
- Parties release each other from claims arising prior to agreement effectiveness.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/109657/000149315222024422/0001493152-22-024422-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/109657/000149315222024422/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-024422

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