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BioXcel Therapeutics Secures $14M Through Direct Stock Offering to Institutional Investors

• BioXcel Therapeutics has entered into a securities purchase agreement with institutional investors, raising $14M through a registered direct offering of common stock and warrants.

• The offering includes 4 million shares of common stock and accompanying warrants at a combined price of $3.50 per share and warrant package.

• The transaction, expected to close on March 4, will provide essential working capital for BioXcel's general corporate operations.

BioXcel Therapeutics (NASDAQ: BTAI) has announced a significant financial move, securing $14 million through a registered direct offering of common stock and warrants to institutional investors. The transaction represents a strategic effort to strengthen the company's financial position and support ongoing operations.

Transaction Details and Structure

The agreement involves the sale of 4 million shares of common stock, each accompanied by warrants to purchase additional shares. The combined offering is priced at $3.50 per share and accompanying warrant, targeting select institutional investors. Rodman & Renshaw LLC has been appointed as the exclusive placement agent for this transaction.

Financial Impact and Utilization

The gross proceeds of approximately $14 million, before deducting placement agent fees and other offering-related expenses, will bolster BioXcel's financial resources. The company has indicated that the funds will be allocated towards working capital and general corporate purposes, providing essential operational flexibility.

Timeline and Execution

The offering is scheduled to close on March 4, subject to meeting standard closing conditions. This structured approach to fundraising demonstrates BioXcel's ability to attract institutional investment while maintaining its strategic focus on corporate development.
The successful completion of this offering will provide BioXcel Therapeutics with additional financial resources to advance its corporate initiatives and maintain operational momentum in its therapeutic development programs.
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