BioXcel Secures $77.25M DIP Financing, Faces Nasdaq Delisting
BTAI is trading near its 52-week low of $0.142 (13% above the low) on elevated volume (5.2× avg).
Summary
BioXcel Therapeutics secured $77.25 million in DIP financing from Oaktree and QIA to fund its Chapter 11 case, while Nasdaq moved to delist its stock effective September 8, 2026.
Key Events · Legal and Risk Events · BTAI
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DIP Financing Secured
Entered a $77.25 million super-priority DIP credit agreement with Oaktree and Qatar Investment Authority on August 31, 2026, including $19 million in new money loans and $58.25 million in roll-up loans.
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Financing Terms
Loans bear 13.00% annual interest (cash on new money, PIK on roll-up), with a 4.0% exit fee and maturity of January 27, 2027. Initial draw of $9.5 million expected September 1, 2026.
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Nasdaq Delisting Notice
Nasdaq determined to delist BTAI common stock under Listing Rules 5101, 5110(b), and IM 5101-1 due to the Chapter 11 filing. Trading suspended at open on September 8, 2026; company will not appeal.
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OTC Pink Sheets Transition
After delisting, shares are expected to trade on the Pink Limited Market, which offers significantly less liquidity and could further depress the trading price.
Analysis · BTAI · Life Sciences
To fund operations through its Chapter 11 bankruptcy, BioXcel Therapeutics entered a $77.25 million debtor-in-possession credit agreement with Oaktree and the Qatar Investment Authority. The financing includes $19 million in new money loans and $58.25 million in roll-up loans converting existing prepetition debt, carrying a 13% interest rate and a 4% exit fee. Separately, Nasdaq notified the company on August 31 that its common stock will be delisted, with trading suspended September 8, 2026. The company does not intend to appeal, and shares are expected to move to the Pink Limited Market, which will likely reduce liquidity and further depress the stock price.
How filings like this one have moved
In the 30 days to Sep 9, 2026, 44.3% of the 601 measured filings Wiseek scored 9 moved their stock by 5% or more by the next session's close. The median move was -0.47%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, BTAI was trading at $0.16 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $5.1M. The 52-week trading range was $0.14 to $4.29. This filing was assessed with negative market sentiment and an importance score of 9 out of 10.