Key Highlights

  • BioXcel Therapeutics finalized a super-priority DIP Credit Facility totaling as much as $77.25 million.
  • The facility consists of $19 million in fresh Capital and $58.25 million in roll-up loans.
  • The financing follows the company's Chapter 11 filing.
  • Nasdaq is set to suspend trading on September 8, with shares anticipated to transition to the Pink Limited Market.

BioXcel Therapeutics, Inc. (NASDAQ: BTAI) finalized a super-priority DIP credit facility totaling as much as $77.25 million following its Chapter 11 filing, consisting of $19 million in fresh capital and $58.25 million in roll-up loans.

What Happened

Nasdaq is set to suspend trading on September 8, with shares anticipated to transition to the Pink Limited Market.

Market Reaction

The disclosed information does not include stock price or trading data for BioXcel Therapeutics following the finalized DIP facility, ahead of the scheduled Nasdaq trading suspension.

Outlook

The September 8 Nasdaq trading suspension and transition to the Pink Limited Market represent the next disclosed milestones as BioXcel Therapeutics proceeds through its Chapter 11 process.