BioXcel Therapeutics amends loan, defers $9M
BioXcel Therapeutics, Inc. entered into an Eleventh Amendment to its existing Credit Agreement and Guaranty with lenders administered by Oaktree Fund Administration LLC.
Rhea-AI Filing Summary
BioXcel Therapeutics, Inc. entered into an Eleventh Amendment to its existing Credit Agreement and Guaranty with lenders administered by Oaktree Fund Administration LLC. Lenders agreed to defer to August 31, 2026 the principal and interest payment originally due June 30, 2026, now requiring a payment of $9,016,914.47 plus all accrued interest and fees through that date.
The amendment also changes covenant terms by lowering the agreement’s minimum liquidity requirement, so BioXcel must maintain minimum cash liquidity of $6.25 million instead of $7.5 million. Certain subsidiaries continue as guarantors under the amended credit facility.
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8-K Event Classification
2 items: 1.01, 9.01
2 items
Item 1.01
Entry into a Material Definitive Agreement
Business
The company signed a significant contract such as a merger agreement, credit facility, or major partnership.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Deferred payment amount: $9,016,914.47
New minimum cash liquidity covenant: $6.25 million
Prior minimum cash liquidity covenant: $7.5 million
+2 more
5 metrics
Deferred payment amount
$9,016,914.47
Principal and interest originally due June 30, 2026, now payable August 31, 2026
New minimum cash liquidity covenant
$6.25 million
Required minimum cash liquidity after Eleventh Amendment to Credit Agreement
Prior minimum cash liquidity covenant
$7.5 million
Previous required minimum cash liquidity before Eleventh Amendment
New payment due date
August 31, 2026
Date by which $9,016,914.47 plus accrued interest and fees must be paid
Original due date
June 30, 2026
Original principal and interest due date later deferred under Tenth and Eleventh Amendments
Key Terms
Credit Agreement and Guaranty, minimum liquidity covenant, subsidiary guarantors, administrative agent, +1 more
5 terms
Credit Agreement and Guaranty financial
"entered into the Eleventh Amendment to Credit Agreement and Guaranty"
minimum liquidity covenant financial
"reduce the Credit Agreement’s minimum liquidity covenant to require minimum cash"
A minimum liquidity covenant is a clause in a loan or bond agreement that requires the borrower to keep a certain amount of cash or easily sold assets on hand, like an agreed emergency fund. It matters to investors because it protects lenders and other creditors by reducing the chance of missed payments; falling below the required level can trigger penalties, default, or demands for extra collateral, which can affect a company’s borrowing costs and equity value.
subsidiary guarantors financial
"certain subsidiaries of the Company from time to time party thereto as subsidiary guarantors"
administrative agent financial
"Oaktree Fund Administration LLC, as administrative agent"
An administrative agent is a bank or financial firm appointed to handle the day-to-day paperwork and communication for a group of lenders on a loan or credit agreement, acting as the central point for collecting payments, distributing funds, monitoring covenants, and sharing information. For investors, the administrative agent matters because it influences how quickly lenders receive updates, how smoothly repayments and waivers are handled, and how effectively the lending group enforces terms — think of it as a property manager coordinating tasks for multiple owners.
Inline XBRL technical
"Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL"
Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did BioXcel Therapeutics (BTAI) change in its credit agreement on July 31, 2026?
BioXcel Therapeutics entered an Eleventh Amendment to its Credit Agreement and Guaranty. Lenders deferred a principal-and-interest payment and lowered the minimum liquidity covenant, adjusting both the near-term payment schedule and required cash liquidity level.
When is the deferred $9,016,914.47 payment now due for BioXcel Therapeutics (BTAI)?
The deferred payment of $9,016,914.47, representing principal and interest originally due June 30, 2026, is now required on August 31, 2026, together with all additional accrued interest and fees through that date.
What is the new minimum liquidity covenant for BioXcel Therapeutics (BTAI)?
The Eleventh Amendment reduces the Credit Agreement’s minimum liquidity covenant so BioXcel must now maintain at least $6.25 million in minimum cash liquidity, down from the prior requirement of $7.5 million.
Which parties are involved in BioXcel Therapeutics’ (BTAI) amended Credit Agreement?
The Credit Agreement and Guaranty is among BioXcel Therapeutics as borrower, certain subsidiaries as subsidiary guarantors, the lender group, and Oaktree Fund Administration LLC acting as administrative agent under the facility.
How does the Eleventh Amendment affect the June 30, 2026 payment for BioXcel Therapeutics (BTAI)?
The amount of principal and interest originally due on June 30, 2026 is not forgiven; instead, the lenders agreed to defer it so that $9,016,914.47 plus accrued interest and fees is payable on August 31, 2026.
AI-generated analysis. How Rhea-AI works. Not financial advice.
