BioXcel Therapeutics Announces Pricing of Public Offering of Common Stock
NEW HAVEN, Conn., July 28, 2020 (GLOBE NEWSWIRE) -- BioXcel Therapeutics, Inc. (“BTI” or the “Company”) (Nasdaq: BTAI), a clinical-stage biopharmaceutical development company, today announced the pricing of an underwritten public offering of 4,000,000 shares of common stock at a public offering price of $50.00 per share. In addition, certain selling stockholders have granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock at the public offering price, less underwriting discounts and commissions. Gross proceeds to BTI from the offering are expected to be $200 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 the selling stockholders.
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 expected to close on or about July 31, 2020, subject to customary closing conditions.
The common stock is being offered by BTI 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: email@example.com; Goldman Sachs & Co. LLC, 200 West Street, New York, New York 10282, Attn: Prospectus Department, Telephone 866-471-2526, Facsimile: 212-902-9316, Email: firstname.lastname@example.org; Jefferies LLC, 520 Madison Avenue New York, NY 10022, or by telephone at 877-821-7388, or by email at Prospectus_Department@Jefferies.com; Guggenheim Securities, LLC, Attention: Equity Syndicate Department, 330 Madison Avenue, 8th Floor, New York, NY 10017, or by telephone at 212-518-9544, or by email at GSEquityProspectusDelivery@guggenheimpartners.com; or SunTrust Robinson Humphrey, Inc., 3333 Peachtree Road NE, 9th Floor, Atlanta, GA 30326, Attn: Prospectus Department, Email: email@example.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.