On September 16, 2020, GT Biopharma, Inc. (the "Company") reported that it entered into a Securities Purchase Agreement with two purchasers (individually, a "Purchaser," and collectively, the "Purchasers") pursuant to which the Company has issued to the Purchasers Convertible Debentures in an aggregate principal amount of $250,000 (the "Debentures"), which Debentures are convertible into the Company’s common stock (the "Common Stock") at a price of $0.20 per share (Filing, 8-K, GT Biopharma, SEP 16, 2020, View Source [SID1234565479]).

The issuance of the Debentures was made in reliance on the exemption provided by Section 4(a)(2) of the Securities Act of 1933, as amended (the "Securities Act"), for the offer and sale of securities not involving a public offering and Regulation D promulgated under the Securities Act.

The foregoing summaries of the Securities Purchase Agreement, and the Debentures are qualified in their entirety by reference to the full text of the agreements, which are attached hereto as Exhibits 10.1 and 4.1, respectively, and are incorporated herein by reference.

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