BioXcel Therapeutics (BTAI) Announces $200M Proposed Public Offering of Common Stoc

BioXcel Therapeutics, Inc. (“BTI” or the “Company”) (Nasdaq: BTAI), a clinical-stage biopharmaceutical development company, today announced that it has commenced an underwritten public offering of $200.0 million of shares of its common stock. In addition, certain selling stockholders expect to grant the underwriters a 30-day option to purchase up to $30.0 million of additional shares of common stock at the public offering price, less underwriting discounts and commissions.

BofA Securities, Goldman Sachs & Co. LLC, Jefferies, Guggenheim Securities and SunTrust Robinson Humphrey are acting as book-running managers for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

The Company intends to use the net proceeds of this offering to fund ongoing clinical trials, commercialization preparation and for general corporate purposes.

The common stock is being offered by BTI pursuant to an automatic shelf registration statement on Form S-3 that was previously filed with the Securities and Exchange Commission (SEC) on July 27, 2020 and automatically became effective upon filing.

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