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Slideshow Secondary Stock Offerings

By The Online Investor Staff, updated Thu., Feb. 27, 2:47 PM

Slide #12. BioXcel Therapeutics, Inc. Secondary Offering

Company: BioXcel Therapeutics, Inc. (NASDAQ:BTAI)
Date announced: 2/19/2020
Shares Offered: 2,000,000
Date of Pricing: 2/20/2020
Price Per Share: $32.00
Secondary Offering Details: 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 2,000,000 shares of its common stock. In connection with the offering, BTI intends to grant the underwriters a 30-day option to purchase up to an additional 300,000 shares of common stock from BTI. To the extent the underwriters exercise their option to purchase additional shares of common stock, the Company intends to use the net proceeds from the sale of additional shares to repurchase shares of common stock (which shares will then be canceled) from BioXcel Corporation at a price equal to the price paid by the underwriters for such shares in the public offering. -updated 2/20- 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 2,000,000 shares of common stock at a public offering price of $32.00 per share. In addition, BTI has granted the underwriters a 30-day option to purchase up to an additional 300,000 shares of common stock from BTI at the public offering price, less underwriting discounts and commissions. Gross proceeds to BTI from the offering are expected to be approximately $64.0 million, before deducting underwriting discounts and commissions and offering expenses. To the extent the underwriters exercise their option to purchase additional shares of common stock, the Company intends to use the net proceeds from the sale of additional shares to repurchase shares of common stock (which shares will then be canceled) from BioXcel Corporation at a price equal to the price paid by the underwriters for such shares in the public offering.

BioXcel Therapeutics is a biopharmaceutical company utilizing artificial intelligence-based approaches to identify the medicines across neuroscience and immuno-oncology. Co.'s drug approach utilizes existing approved drugs and/or clinically validated product candidates together with big data and machine learning algorithms to identify therapeutic indices. Co.'s clinical development programs are BXCL501, a sublingual thin film formulation of the a2a adrenergic receptor agonist dexmedetomidine for acute treatment of agitation resulting from neurological and psychiatric disorders, and BXCL701, an immuno-oncology agent for treatment of a rare form of prostate cancer and pancreatic cancer.
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Company Name: 
BioXcel Therapeutics Inc
Website: 
www.bioxceltherapeutics.com
Sector: 
Drugs & Pharmaceuticals
Number of ETFs Holding BTAI: 
7
Total Market Value Held by ETFs: 
$15.18M
Total Market Capitalization: 
$536.00M
% of Market Cap. Held by ETFs: 
2.83%
 

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