GT Biopharma induces exercise of 302K warrants at $2.27, raises ~$0.7M; issues new warrants for 604K shares

GT Biopharma, Inc.

Entered inducement letters with holders of 302,069 existing warrants to exercise at reduced price of $2.27/share, raising ~$0.7M gross proceeds.
In exchange, issued Series A (5-year term) and Series B (18-month term) inducement warrants at $2.02 exercise price for up to 604,138 shares total.
New warrants are unregistered; company to file resale registration statement within 30 days.
Net proceeds to be used for working capital and general corporate purposes.

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