GT Biopharma raises $5.45M via convertible preferred stock and warrants with greenshoe option up to $19.8M

GT Biopharma, Inc.

Private placement of up to 6,056 shares of Series L 10% Convertible Preferred Stock at $1,000 stated value; net proceeds $5.45M.
Conversion price $2.043 per share; warrants exercisable at same price for five years; full ratchet anti-dilution with floor of $0.454.
Dividends at 10% annual rate until May 2026, increasing to 12% thereafter; payable quarterly in cash or common stock.
Company to seek shareholder approval for issuance over 19.99% of outstanding common stock; officers/directors locked up.
Registration rights agreement requires filing within 30 days; liquidated damages of 1.5% per month if not effective within 90 days.

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