BioXcel Therapeutics, Inc. (BTAI) Form 8-K — Sep 1, 2026
BioXcel Therapeutics entered into a super-priority debtor-in-possession credit agreement on August 31, 2026 with affiliates of Oaktree Capital Management and the Qatar Investment Authority, providing up to $77.25 million in financing following its voluntary Chapter 11 filing in Delaware on August 27, 2026. The facility consists of up to $19 million in new money loans drawn in two $9.5 million tranches and up to $58.25 million in roll-up loans converting prepetition debt dollar-for-dollar.
Key figures
- Debt Amount
- $77.25 million
- Interest Rate
- 13
- Maturity Date
- 2027-01-27
- Exit fee
- 4.0% of aggregate principal
- Roll up loans
- $58.25 million
- New money loans
- $19 million
- New money draw 1
- $9.5 million
- New money draw 2
- $9.5 million
- Dip facility total
- $77.25 million
- Roll up multiplier
- 3x new money funded
- Default interest uplift
- 2.0%
- Minimum liquidity covenant
- $250 thousand
- Nasdaq trading suspension date
- 2026-09-08
- Interim roll up of prepetition debt
- $29.75 million
- Bridge loan under fourteenth amendment
- $1.25 million
AI analysis
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