GT Biopharma amends agreement with Cytovance to raise ownership cap from 4.9% to 9.9%

GT Biopharma, Inc.

Cytovance's beneficial ownership limit raised from 4.9% to 9.9% of GT Biopharma's outstanding common stock.
Amendment effective April 25, 2024; all other terms of the Aug 24, 2022 Settlement and Investment Agreement unchanged.
Excess shares above 9.9% cap to be issued in quarterly installments with 10-day prior notice from GTBP.
Executed by GTBP Executive Chairman Michael Breen and Cytovance CFO David Knauss.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

GT Biopharma, Inc. amended Amendment No. 1 to Settlement and Investment Agreement with Cytovance Biologics, Inc. (effective 2024-04-25).

Action: amendment
Agreement: settlement
Counterparty: Cytovance Biologics, Inc.
Effective: 2024-04-25

Exact text from the filing

On April 25, 2024, the Registrant entered into Amendment No. 1 to Settlement and Investment Agreement (the “Amendment”) with Cytovance to increase the limit on Cytovance’s ownership of shares of the Registrant’s common stock from 4.9% to 9.9% of the outstanding shares of the Registrant’s common stock.

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Source: SEC EDGAR

accession 0001493152-24-017209

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