GT Biopharma Inc (GTBP)

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GT Biopharma Announces Stock Sales Agreement with Holders of Converted Securities
5 days 1 hour 47 minutes ago - DJNF
WASHINGTON, DC / ACCESSWIRE / OCTOBER 12, 2017 / GT Biopharma Inc. (OTCQB: GTBP and Euronext Paris: GTBP.PA) announced today that persons who received common stock ("Common Stock") upon the conversion of notes, preferred stock and in some cases upon the settlement of warrants, during the last week of August 2017, have amended their conversion agreements so that no Common Stock will be sold for less than $7.00 per share thru November 30, 2017. Sales above $7.00 per share are only allowed under the leak out provisions agreed to in the original conversion documents. Under the documents, the Common Stock can only be sold based on a percentage of daily volume.
"This amendment is beneficial to all shareholders in helping to preserve share value as GT Biopharma continues to progress towards its goal of moving onto the NASDAQ exchange," said Executive Chairman Anthony Cataldo.

Further details of Common Stock lock up provisions are disclosed in the Company's current disclosure on Form 8-K filed with the Securities and Exchange Commission today.