BioXcel Therapeutics has entered into a twelfth amendment to its credit agreement with lenders, providing a deadline extension to secure a strategic transaction and reducing its minimum cash liquidity requirement.
Key Details
- Transaction Deadline: The company now has until August 21, 2026, to enter into a definitive agreement that would result in the full repayment of its loan obligations or is an alternative capital solution acceptable to lenders.
- Liquidity Covenant: The minimum cash liquidity covenant was reduced to $3.0 million, down from the previous requirement of $6.25 million.
- Agreement Date: The amendment was executed on August 10, 2026, with Oaktree Fund Administration LLC as the administrative agent.