secwatch.observer — SEC 8-K summary
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Issuer:     BioXcel Therapeutics, Inc. (BTAI)
CIK:        0001720893
Form:       8-K
Filed at:   2026-08-28T10:00:29+00:00
Accession:  0001104659-26-102570
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.01, 1.03
LLM model:  deepseek-v4-flash:cloud@v2

BioXcel files Chapter 11, sells assets to Teva for $57.5M upfront plus milestones
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- Filed Chapter 11 petitions on Aug 27, 2026 in Delaware; operates as debtor-in-possession.
- DIP financing from Oaktree and QIA: up to $19M new money plus $58.25M roll-up.
- Stalking Horse APA with Teva: $57.5M upfront, up to $67.5M development milestones, up to $20M commercial milestones.
- Appointed Samir Saleem as Chief Restructuring Officer, reporting to Board's Strategic Process Committee.
- Sale subject to higher bids and court approval; transaction target close by Oct 30, 2026.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1720893/000110465926102570/0001104659-26-102570-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1720893/000110465926102570/tm2624233d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-102570

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