GT Biopharma, Inc. Announces $3.2 Million Registered Direct Offering Priced At-The-Market Under Nasdaq Rules
BRISBANE, CALIFORNIA, May 21, 2024 (GLOBE NEWSWIRE) — GT Biopharma, Inc. (NASDAQ:GTBP) (the “Company”), today announced that it has entered into a definitive securities purchase agreements for the purchase and sale of 740,000 shares of the Company’s common stock at a purchase price of $4.35 per share of common stock in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, the Company will issue warrants to purchase up to 740,000 shares of common stock. The warrants have an exercise price of $4.35 per share, will be exercisable immediately and will have a term of five years following the date of issuance. The closing of the offering is expected to occur on or about May 23, 2024, subject to the satisfaction of customary closing conditions.