BioXcel Therapeutics entered into the Tenth Amendment to its Credit Agreement and Guaranty on July 3, 2026. The amendment allows for payment-in-kind of accrued interest through June 30, 2026, and defers a $9,016,914.47 principal and interest payment from June 30 to July 31, 2026. The company's minimum liquidity covenant was reduced from $12.5 million to $7.5 million. By July 31, 2026, the company must enter definitive agreements to either repay all obligations or execute an alternative capital solution. The amendment establishes a strategic process committee led by David Mack to oversee potential sales, restructurings, or business combinations. Additional restrictions include prohibitions on dividends, new indebtedness, and material compensation changes through July 31, 2026. BioXcel Therapeutics is a biopharmaceutical company.