BioXcel Therapeutics forms strategic committee to weigh restructuring, bankruptcy options under Oaktree loan amendment

BioXcel Therapeutics, Inc.

BioXcel Therapeutics, Inc.

BTAI

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  • BioXcel Therapeutics entered a 10th amendment to its Oaktree-led credit agreement, setting a July 31, 2026 deadline for definitive deals.
  • Required transactions must either repay all credit agreement obligations or deliver an alternative capital solution acceptable to lenders.
  • Accrued interest through June 30, 2026 shifted to payment-in-kind, capitalized into loan principal.
  • June 30 principal payment deferred to July 31, 2026; required payment set at $9.02 million, excluding additional accrued interest and fees through July 31.
  • Minimum liquidity covenant cut to $7.5 million; board strategic process committee formed with exclusive authority over any restructuring or insolvency filing.


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