secwatch.observer — SEC 8-K summary
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Issuer:     BioXcel Therapeutics, Inc. (BTAI)
CIK:        0001720893
Form:       8-K
Filed at:   2026-09-01T11:01:13+00:00
Accession:  0001104659-26-104106
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 2.03, 3.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1720893/000110465926104106/0001104659-26-104106-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1720893/000110465926104106/tm2624539d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-104106

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