GT Biopharma expands preferred stock offering to $7.75 million with new investor

GT Biopharma, Inc. disclosed in an 8-K dated September 21, 2026 that on September 18, 2026 it entered into a First Amendment to its Securities Purchase Agreement. The amendment brought in a new purchaser alongside the original purchasers and increased the number of shares of Preferred Stock issuable under the agreement to 8,611.111 shares, with an aggregate stated value of $8,611,111.11, for an aggregate purchase price of $7,750,000¹.

This follows the original Securities Purchase Agreement signed September 14, 2026, under which the company had agreed to sell up to 8,277.778 shares of Series M 10% Convertible Preferred Stock along with common and vesting warrants, with an aggregate stated value of $8,277,778 for a purchase price of $7,450,000, according to the earlier 8-K covering that agreement. Under that original agreement, the preferred shares may be converted at any time at the holder's option into common stock at an initial conversion price of $6.10, subject to certain conditions described in the Certificate of Designation.²

The amendment also lets each purchaser exercise Greenshoe Rights to buy additional preferred stock with an aggregate stated value of up to $34,675,615, for an aggregate purchase price of $31,208,054, subject to adjustments.¹

The new purchaser also signed a joinder to the existing Registration Rights Agreement, agreeing to the same terms already in place for the original purchasers.¹

To accommodate the larger offering, on September 18, 2026 the company filed a Certificate of Increase with Delaware's Secretary of State, raising the authorized Series M Preferred Stock from 41,778 shares to 43,287 shares.¹ The filing was signed by Chief Financial Officer Alan Urban.