BioXcel enters Chapter 11, secures $77.25M DIP, Nasdaq delisting on Sept 8

BioXcel Therapeutics, Inc.

DIP facility up to $77.25M from Oaktree and Qatar Investment Authority; 13% interest, matures Jan 27, 2027.
New money loans $19M in two $9.5M draws; roll-up loans $58.25M converting prepetition debt dollar-for-dollar.
Nasdaq to delist BTAI due to Chapter 11; trading suspended Sept 8, 2026; stock to move to pink sheets.
Company not appealing delisting; expects $9.5M initial draw and $29.75M roll-up on Sept 1, 2026.
Exit fee 4% on loans; default interest 2% above applicable rate; DIP secured by superpriority liens.

Featured in Daily 8-K Digest

Selected #6 for 2026-09-01. Read digest

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.