secwatch.observer — SEC 8-K summary
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Issuer:     BioXcel Therapeutics, Inc. (BTAI)
CIK:        0001720893
Form:       8-K
Filed at:   2024-03-25T23:59:59+00:00
Accession:  0001104659-24-038441
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1720893/000110465924038441/0001104659-24-038441-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1720893/000110465924038441/tm249625d2_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-038441

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer