---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-24-038441"
form_type: "8-K"
ticker: "BTAI"
cik: "0001720893"
company_name: "BioXcel Therapeutics, Inc."
filed_at: "2024-03-25T23:59:59+00:00"
generated_at: "2026-06-04T08:31:09.248514+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-24-038441
- form_type: 8-K
- ticker: BTAI
- cik: 0001720893
- company_name: BioXcel Therapeutics, Inc.
- filed_at: 2024-03-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1720893/000110465924038441/0001104659-24-038441-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1720893/000110465924038441/tm249625d2_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-24-038441
- JSON: https://secwatch.observer/filing/0001104659-24-038441.json
- Plain text: https://secwatch.observer/filing/0001104659-24-038441.txt

## Key facts
- Material Agreements
  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
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1720893/000110465924038441/0001104659-24-038441-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.