GT Biopharma Inc.

04/30/2024 | Press release | Distributed by Public on 04/30/2024 13:27

Material Agreement - Form 8-K

Item 1.01 Entry into a Material Definitive Agreement.

As previously reported, on August 24, 2022,the Registrant entered into a Settlement and Investment Agreement (the "Agreement") with Cytovance Biologics, Inc. ("Cytovance"), pursuant to which, upon the terms and subject to the conditions set forth therein, the Agreement limits Cytovance's ownership of shares of the Registrant's common stock to 4.9% of the outstanding shares of the Registrant's common stock. On April 25, 2024, the Registrant entered into Amendment No. 1 to Settlement and Investment Agreement (the "Amendment") with Cytovance to increase the limit on Cytovance's ownership of shares of the Registrant's common stock from 4.9% to 9.9% of the outstanding shares of the Registrant's common stock. All other terms and conditions of the Agreement remain unchanged and in full force and effect.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the form of Amendment attached to this Current Report on Form 8-K as Exhibit 10.1 and incorporated by reference into this Item 1.01.