BioXcel Therapeutics enters Tenth Amendment with Oaktree; defers principal, reduces liquidity covenant to $7.5M

BioXcel Therapeutics, Inc.

Payment of $9,016,914.47 (principal and interest) deferred from June 30 to July 31, 2026.
Minimum liquidity covenant reduced from $12.5M to $7.5M.
Company must enter definitive agreements by July 31, 2026 for a transaction to repay all obligations or alternative capital solutions.
Strategic Process Committee established with David Mack to oversee restructuring, sale, or bankruptcy filing.
Additional negative covenants, weekly lender meetings, and bi-weekly cash flow budgets imposed.

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