BioXcel gets $1.25M loan, liquidity covenant cut to $250K, must close deal by Aug 31

BioXcel Therapeutics, Inc.

Oaktree lenders advanced $1.25M term loan; BioXcel paid $250K upfront fee (20% of principal).
Minimum liquidity covenant reduced from $3.0M to $250K under Fourteenth Amendment.
Company must sign definitive agreements by Aug 31, 2026 for full repayment or alternative capital solution.
Covenants amended to remove flexibility for out-licensing IP and asset sales.
Amendment includes plan support provisions for potential insolvency proceedings.

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