BioXcel Therapeutics has entered into the Thirteenth Amendment to its Credit Agreement, extending a crucial deadline for the company to secure a strategic transaction. The amendment pushes the date by which BioXcel must enter into a definitive agreement that would either repay its debt or provide an alternative capital solution acceptable to its lenders.
Key Details
- New Deadline: The deadline for securing an "Acceptable Transaction" has been extended from August 21, 2026, to August 28, 2026.
- Transaction Requirements: The required transaction must either result in the full repayment of all loan obligations or be an alternative capital solution on terms acceptable to the lenders, led by Oaktree Fund Administration LLC.
- Agreement: This amendment modifies the Credit Agreement and Guaranty, originally dated April 19, 2022.