GT Biopharma, Inc. entered into a Securities Purchase Agreement on May 12, 2025, for a private placement of up to 6,056 shares of Series L 10% Convertible Preferred Stock and related warrants valued at approximately $6.06 million. This includes convertible shares at an initial price of $2.043 and cumulative dividends starting at 10% per annum, increasing to 12% thereafter.