BioXcel Therapeutics Announces $25M Registered Direct Offering
Portfolio Pulse from Benzinga Newsdesk
BioXcel Therapeutics, Inc. (BTAI) announced a registered direct offering of over 3 million shares and warrants, plus pre-funded warrants for approximately $25 million in aggregate gross proceeds. The offering includes common stock and warrants at a price of $2.901 per share and warrant, and pre-funded warrants at $2.900 per share, with an exercise price of $0.001 for pre-funded warrants and $3.20 for accompanying warrants.

March 25, 2024 | 11:03 am
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BioXcel Therapeutics announces a $25M direct offering, potentially diluting current shares but providing significant capital for growth.
The direct offering by BioXcel Therapeutics is likely to have a short-term negative impact on its stock price due to the dilutive effect of issuing additional shares. However, the capital raised is crucial for the company's continued development of transformative medicines, indicating a potential for long-term growth. The immediate reaction might be negative due to dilution concerns, but the funds are essential for future projects.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100