home · filing · 0001104659-24-121582
8-K filed November 21, 2024, 6:59 PM ET
ticker BTAI
CIK 0001720893
debt
confidence high
sentiment negative
materiality 0.85
BioXcel Therapeutics amends Oaktree credit deal, waives covenants, sets capital raise milestones, appoints director
BioXcel Therapeutics, Inc.
Fifth Amendment waives going concern and minimum revenue covenants; removes prior $50M raise requirement.
New capital milestones: $7M by Nov 27, $18M net by Mar 15, 2025, and $29M net by Aug 15, 2025.
Interest rate fixed at 13% (up from SOFR+7.5%) retroactive to Sep 30, 2024; 10% PIK option available.
Company must make $2.5M amortization payment by Dec 31, 2024; quarterly amortization at 5% begins Mar 31, 2026.
David Mack appointed to board; board expanded to 7. New warrants to lenders: 5M shares at $0.01/share.
Executive movements
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Effective 2024-11-21
Filed November 21, 2024, 6:59 PM ET
On November 21, 2024, the Board appointed David Mack to the Board, effective as of November 21, 2024.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
David Mack was appointed as Director at BioXcel Therapeutics, Inc..
Action appointed
Role Director
Exact text from the filing
On November 21, 2024, the Board appointed David Mack to the Board, effective as of November 21, 2024.
View on SEC.gov
Source: SEC EDGAR
accession 0001104659-24-121582
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