BioXcel Therapeutics Announces Pricing of Public Offering of Common Stock
June 23 2021 - 8:28AM
BioXcel Therapeutics, Inc. (the “Company”) (Nasdaq: BTAI), a
clinical-stage biopharmaceutical development company, today
announced the pricing of an underwritten public offering of
3,155,000 shares of common stock at a public offering price of
$31.70 per share. In addition, a related party stockholder, BioXcel
LLC, has granted the underwriters a 30-day option to purchase up to
an additional 473,250 shares of common stock at the public offering
price, less underwriting discounts and commissions. Gross proceeds
to the Company from the offering are expected to be approximately
$100.0 million, before deducting underwriting discounts and
commissions and offering expenses. The Company will not receive any
of the proceeds from any sale of shares in this offering by BioXcel
LLC.
BofA Securities is acting as sole book-running manager for the
offering. The offering is expected to close on or about June 25,
2021, subject to customary closing conditions.
The common stock is being offered by the Company pursuant to a
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. This offering is
being made only by means of a written prospectus and prospectus
supplement that form a part of the registration statement. A
preliminary prospectus supplement relating to and describing the
terms of the offering was filed with the SEC and is available on
the SEC’s website at www.sec.gov. The final terms of the offering
will be disclosed in a final prospectus supplement to be filed with
the SEC. When available, copies of the prospectus supplement and
the accompanying prospectus relating to the offering may also be
obtained by contacting: BofA Securities, NC1-004-03-43, 200 North
College Street, 3rd floor, Charlotte NC 28255-0001, Attn:
Prospectus Department, Email: dg.prospectus_requests@bofa.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy the securities, nor shall there be
any sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of such jurisdiction.
Forward-Looking StatementThis press release
includes “forward-looking statements” within the meaning of the
Private Securities Litigation Reform Act of 1995. When used herein,
words including “anticipate,” “being,” “will,” “plan,” “may,”
“continue,” and similar expressions are intended to identify
forward-looking statements. In addition, any statements or
information that refer to expectations, beliefs, plans,
projections, objectives, performance or other characterizations of
future events or circumstances, including any underlying
assumptions, are forward-looking. All forward-looking statements
are based upon the Company’s current expectations and various
assumptions. The Company believes there is a reasonable basis for
its expectations and beliefs, but they are inherently uncertain.
The Company may not realize its expectations, and its beliefs may
not prove correct. Actual results could differ materially from
those described or implied by such forward-looking statements as a
result of various important factors, including, without limitation,
its limited operating history; its incurrence of significant
losses; its need for substantial additional funding and ability to
raise capital when needed; its limited experience in drug discovery
and drug development; its dependence on the success and
commercialization of BXCL501 and BXCL701 and other product
candidates; the failure of preliminary data from its clinical
studies to predict final study results; failure of its early
clinical studies or preclinical studies to predict future clinical
studies; its ability to receive regulatory approval for its product
candidates; its ability to enroll patients in its clinical trials;
undesirable side effects caused by the Company’s product
candidates; its approach to the discovery and development of
product candidates based on EvolverAI is novel and unproven; its
exposure to patent infringement lawsuits; its ability to comply
with the extensive regulations applicable to it; impacts from the
COVID-19 pandemic; its ability to commercialize its product
candidates; and the other important factors discussed under the
caption “Risk Factors” in its Quarterly Report on Form 10-Q for the
quarterly period ended March 31, 2021, as such factors may be
updated from time to time in its other filings with the SEC, which
are accessible on the SEC’s website at www.sec.gov. These and other
important factors could cause actual results to differ materially
from those indicated by the forward-looking statements made in this
press release. Any such forward-looking statements represent
management’s estimates as of the date of this press release. While
the Company may elect to update such forward-looking statements at
some point in the future, except as required by law, it disclaims
any obligation to do so, even if subsequent events cause our views
to change. These forward-looking statements should not be relied
upon as representing the Company’s views as of any date subsequent
to the date of this press release.
Contact Information
Mary ColemanBioXcel Therapeutics, VP of Investment
RelationsMColeman@bioxceltherapeutics.com1.475.238.6837Investor
Relations:John GrazianoSolebury Troutjgraziano@soleburytrout.com
1.646.378.2942
Media:Julia DeutschSolebury Troutjdeutsch@soleburytrout.com
1.646.378.2967
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