secwatch.observer — SEC 8-K summary
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Issuer:     GT Biopharma, Inc. (GTBP)
CIK:        0000109657
Form:       8-K
Filed at:   2025-05-13T23:59:59+00:00
Accession:  0001641172-25-009854
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 3.02, 3.03, 5.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/109657/000164117225009854/0001641172-25-009854-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/109657/000164117225009854/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001641172-25-009854

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