BioXcel Therapeutics, Inc. (BTAI): debt financing — BioXcel Therapeutics amends credit agreement, terminates RIFA, lowers warrant exercise price to $3.6452

BioXcel Therapeutics, Inc.

Entered Second Amendment to Credit Agreement with Oaktree; converts $30M RIFA financing into Tranche A-2 Term Loan.
Increased OnkosXcel investment cap to $30.865M; pays 0.25% exit fee on loans repaid.
Reduces exercise price of existing warrants from $20.04 to $3.6452; issues new warrants for 69,630 shares at same price.
Terminates Revenue Interest Financing Agreement (RIFA); all future funding commitments cancelled.

item 1.01 item 1.02 item 2.03 item 3.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

BioXcel Therapeutics, Inc. amended term loan of The $30,000,000 in financing previously provided to the Company under the RIFA was converted to an outstanding loan unde with Lenders.

Instrument: term loan
Principal: The $30,000,000 in financing previously provided to the Company under the RIFA was converted to an outstanding loan unde
Counterparty: Lenders
Event: amendment

Exact text from the filing

Amendment, the Lenders agreed to permit the Company to invest up to a maximum of $30,865,000 at any time outstanding in OnkosXcel Therapeutics, LLC (“OnkosXcel”), increased from $30,000,000. In connection with the Second Amendment, the Company agreed to pay to the Lenders an exit fee equal to 0.25% of the loans under the Credit Agreement repaid upon maturity or

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BioXcel Therapeutics, Inc. terminated Revenue Interest Financing Agreement with the purchasers party thereto and Oaktree Fund Administration LLC (effective 2023-12-05).

Action: termination
Counterparty: the purchasers party thereto and Oaktree Fund Administration LLC
Effective: 2023-12-05

Exact text from the filing

the Company terminated the Revenue Interest Financing Agreement (as amended from time to time, the “RIFA”) by and among the Company, the purchasers party thereto (the “Purchasers”) and OFA, as administrative agent

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

BioXcel Therapeutics, Inc. amended Second Amendment to Credit Agreement and Guaranty and Termination of Revenue Interest Financing Agreement with Oaktree Fund Administration LLC and lenders valued at up to a maximum of $30,865,000 at any time outstanding (effective 2023-12-05).

Action: amendment
Agreement: credit facility
Counterparty: Oaktree Fund Administration LLC and lenders
Value: up to a maximum of $30,865,000 at any time outstanding
Effective: 2023-12-05

Exact text from the filing

BioXcel Therapeutics, Inc. (the “Company”) entered into the Second Amendment to Credit Agreement and Guaranty and Termination of Revenue Interest Financing Agreement (the “Second Amendment”), which amended the Credit Agreement and Guaranty

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BioXcel Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-123807

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