BioXcel raises $25M in registered direct offering of shares and warrants

BioXcel Therapeutics, Inc.

Sold 3.05M shares at $2.901/share with accompanying warrants, and 5.57M pre-funded warrants at $2.900/share with accompanying warrants.
Net proceeds of ~$24.9M to fund BXCL501 clinical trials, IGALMI commercialization, and general corporate purposes.
Accompanying warrants have $3.20 exercise price, 5-year term; closing expected March 27, 2024.
Offering conducted under existing Form S-3 shelf registration; Latham & Watkins provided legal opinion.

Key facts

Extracted from this filing and checked against the source text.

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

BioXcel Therapeutics, Inc. entered into Securities Purchase Agreement with the purchasers named therein (collectively, the "Purchasers") valued at approximately $24.9 million (effective 2024-03-25).

Action: entry
Agreement: equity purchase
Counterparty: the purchasers named therein (collectively, the "Purchasers")
Value: approximately $24.9 million
Effective: 2024-03-25

Exact text from the filing

On March 25, 2024, BioXcel Therapeutics, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with the purchasers named therein (collectively, the “Purchasers”).

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543 material agreements filed in the last 30 days. Browse all material agreements →

BioXcel Therapeutics, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-038441

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