---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-095329"
form_type: "8-K"
ticker: null
cik: "0001832415"
company_name: "Better Therapeutics, Inc."
filed_at: "2023-04-07T23:59:59+00:00"
generated_at: "2026-06-17T04:42:55.285153+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.81
calibrated_materiality_score: 0.81
confidence: "high"
source: SEC EDGAR
---

# BTTX raises $6.5M at $0.825/share; receives Nasdaq deficiency notice

## Summary
- Private placement of 7.88M shares (~$6.5M gross) at $0.825/share, with officer/director participation; closes ~April 10.
- Loan amendment with Hercules halts amortization payments until Aug 1 (or Nov 1 if benchmarks met) and waives prepayment penalty.
- Nasdaq notified company of stockholders' deficit ($899k) below $2.5M min; must submit compliance plan by May 19, 2023.
- Proceeds plus expense reductions expected to extend runway through potential FDA decision on BT-001.

## SEC filing metadata
- accession: 0001193125-23-095329
- form_type: 8-K
- cik: 0001832415
- company_name: Better Therapeutics, Inc.
- filed_at: 2023-04-07T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.81
- calibrated_materiality_score: 0.81
- confidence: high
- sec_items: 1.01, 3.01, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1832415/000119312523095329/0001193125-23-095329-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1832415/000119312523095329/d473119d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-095329
- JSON: https://secwatch.observer/filing/0001193125-23-095329.json
- Plain text: https://secwatch.observer/filing/0001193125-23-095329.txt

## Key facts
- Listing & Compliance Notices
  Better Therapeutics, Inc. received a nasdaq deficiency notice notice regarding stockholders equity (rules 5550(b)(1)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: stockholders equity
  - Rules: 5550(b)(1)
  source text: of at least $2,500,000 (the “Stockholders’ Equity Requirement”). The Company’s Annual Report on Form 10-K for the year ended December 31, 2022, reported stockholders’ deficit of $899,000, which is below the Stockholders’ Equity Requirement for continued listing on the Nasdaq Capital Market. The Letter further noted that as of its date, the Company did not have a
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832415/000119312523095329/0001193125-23-095329-index.htm
- Material Agreements
  Better Therapeutics, Inc. amended First Amendment to Loan Agreement with Hercules Capital, Inc. (effective 2023-04-05).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Hercules Capital, Inc.
  - Effective: 2023-04-05
  source text: On April 5, 2023, the Company entered into a First Amendment to Loan Agreement (the “Amendment”) with Hercules Capital, Inc. (the “Administrative Agent”) and the lenders party thereto (the “Lenders”), amending that certain Loan and Security Agreement (the “Loan Agreement”), dated as of August 18, 2021, by and among the Company, the Administrative Agent and the Lenders.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832415/000119312523095329/0001193125-23-095329-index.htm
- Material Agreements
  Better Therapeutics, Inc. entered into Securities Purchase Agreement with certain investors valued at approximately $6.5 million (effective 2023-04-06).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain investors
  - Value: approximately $6.5 million
  - Effective: 2023-04-06
  source text: On April 6, 2023, Better Therapeutics, Inc. (the “Company”) entered into a Securities Purchase Agreement (the “Purchase Agreement”) with certain investors (the “Purchasers”) providing for the private placement (the “Private Placement”) to the Purchasers of an aggregate of 7,878,786 shares of the Company’s common stock, par value $0.0001 per share (the “Shares”), for an aggregate purchase price of approximately $6.5 million (or $0.825 per Share).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1832415/000119312523095329/0001193125-23-095329-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.