Jul. 31 at 8:32 PM
$BTAI “D-Day” closed with no announcement. Could be good, could be bad.
I’m not going to speculate on possibilities because only the people involved know what happened.
The one thing we know for certain is that no debt acceleration has been publicly disclosed.
If they reached an agreement today, they have four business days to disclose it to the market, so potentially through Thursday, August 6. If not, it should be addressed in the Q2 10 Q, where the company would be expected to discuss material subsequent events, including the outcome of these negotiations, if applicable.
It’s also worth remembering this wouldn’t be the first time BTAI has gone past a contractual deadline. Oaktree required the company to retain an investment bank back in November 2024, yet one wasn’t hired until July 29, 2025. Eight months and three amendments (Sixth, Seventh and Eighth) just to move that date.
I’ll wait for the filings. They’ll tell us what really happened.
