secwatch.observer — SEC 8-K summary
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Issuer:     BioXcel Therapeutics, Inc. (BTAI)
CIK:        0001720893
Form:       8-K
Filed at:   2026-07-06T10:00:41+00:00
Accession:  0001104659-26-080501
Event type: debt
Sentiment:  negative
Materiality: 0.85
Item codes: 1.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1720893/000110465926080501/0001104659-26-080501-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1720893/000110465926080501/tm2619779d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-080501

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