Bioxcel therapeutics announces $25 million registered direct offering

New haven, conn., march 25, 2024 (globe newswire) -- bioxcel therapeutics, inc. (the “company”) (nasdaq: btai), a biopharmaceutical company utilizing artificial intelligence approaches to develop transformative medicines in neuroscience and immuno-oncology, today announced that it has entered into a securities purchase agreement with investors in a registered direct offering of 3,054,609 shares (the “shares”) of common stock, par value $0.001 per share (“common stock”), and accompanying warrants (the “accompanying warrants”) to purchase up to 3,054,609 shares of common stock at a combined offering price of $2.901 per share and accompanying warrant and pre-funded warrants (the “pre-funded warrants”) to purchase up to 5,565,027 shares of common stock and accompanying warrants to purchase up to 5,565,027 shares of common stock at a combined offering price of $2.900 per share underlying each pre-funded warrant and accompanying warrant, which equals the offering price per share and accompanying warrant less the $0.001 exercise price per share of the pre-funded warrants, for aggregate gross proceeds to the company of approximately $25 million (excluding the proceeds, if any, from the exercise of the pre-funded warrants and the accompanying warrants). the pre-funded warrants have an exercise price of $0.001 per share of common stock and are exercisable at any time after the date of issuance, subject to certain ownership limitations. the accompanying warrants have an exercise price of $3.20 per share of common stock, are exercisable at any time after the date of issuance, subject to certain ownership limitations, and expire five years from the date of issuance.
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