GT Biopharma raises $7.45M via convertible preferred stock and warrants

GT Biopharma, Inc.

GT Biopharma raises $7.45M via Series M 10% Convertible Preferred Stock and warrants; stated value $8.28M.
Conversion price $6.10; warrants exercisable at $6.10 for 100% of conversion shares, 5-year term.
Greenshoe option to purchase up to $30M additional preferred stock (stated value $33.33M) at 10% discount.
Dividends at 10% per annum until Sept 2027, then 12%; full ratchet price protection.
Company to seek shareholder approval for issuance over 19.99% of outstanding shares; officers/directors entered lockup and voting agreements.

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