SCHEDULE 13G/A 0001140361-24-049871 0001403525 XXXXXXXX LIVE 1 Common Stock, par value $0.001 per share 03/31/2025 0001720893 BioXcel Therapeutics, Inc. 09075P105 555 Long Wharf Drive New Haven CT 06511 Rule 13d-1(c) Oaktree Fund Advisors, LLC DE 0 51429 0 51429 51429 N 0.83 OO The reported percentage is calculated based on 6,056,046 shares of Common Stock outstanding as of May 9, 2025, as reported in the Issuers Form 10-Q filed with the Securities and Exchange Commission ("SEC") on May 12, 2025, as increased by the 170,230 shares of Common Stock issuable upon exercise of the Warrants reported herein. Oaktree Capital Management LP DE 0 118801 0 118801 118801 N 1.91 PN The reported percentage is calculated based on 6,056,046 shares of Common Stock outstanding as of May 9, 2025, as reported in the Issuers Form 10-Q filed with the SEC on May 12, 2025, as increased by the 170,230 shares of Common Stock issuable upon exercise of the Warrants reported herein. Oaktree Capital Holdings, LLC DE 0 170230 0 170230 170230 N 2.73 OO The reported percentage is calculated based on 6,056,046 shares of Common Stock outstanding as of May 9, 2025, as reported in the Issuers Form 10-Q filed with the SEC on May 12, 2025, as increased by the 170,230 shares of Common Stock issuable upon exercise of the Warrants reported herein. Oaktree Capital Group Holdings GP, LLC DE 0 170230 0 170230 170230 N 2.73 OO The reported percentage is calculated based on 6,056,046 shares of Common Stock outstanding as of May 9, 2025, as reported in the Issuers Form 10-Q filed with the SEC on May 12, 2025, as increased by the 170,230 shares of Common Stock issuable upon exercise of the Warrants reported herein. BioXcel Therapeutics, Inc. 555 Long Wharf Drive, New Haven, Connecticut, 06511 This statement is filed by the entities and persons listed below, all of whom together are referred to herein as the "Reporting Persons": i) Oaktree Fund Advisors, LLC ("OFA"); ii) Oaktree Capital Management LP ("OCM"); iii) Oaktree Capital Holdings, LLC ("OCH"); iv) Oaktree Capital Group Holdings GP, LLC ("OCGH GP). 333 South Grand Avenue, 28th Floor, Los Angeles, CA 90071 See responses to Item 4 on each cover page. Y 170,230 2.73 0 See responses to Item 6 on each cover page. The reported securities represent 170,230 shares of Common Stock acquirable upon exercise of an equivalent number of warrants each to acquire one share of Common Stock ("Warrants") beneficially owned by the Reporting Persons. In this regard, 118,801 Warrants are directly held by funds and accounts managed by OCM and 51,429 Warrants are directly held by funds and accounts managed by OFA, as set forth in Exhibit 99.2 of this Schedule 13G. Each of OCM and OFA are indirectly managed by OCH, and OCGH GP, as holder of the Class B Units of OCH, has ultimate investment control over the reported securities. The filing of this statement shall not be deemed an admission of beneficial ownership, for purposes of Schedule 13(d) or otherwise, by any of the Reporting Persons or entities listed on Schedule 99.2. 0 See responses to Item 8 on each cover page and response to Item (ii) of this Item 4(c). N Y Y Y Y Y N By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. Exhibit 99.1 Joint Filing Agreement, dated as of December 18, 2024, incorporated herein by reference to Exhibit 99.1 of statement on Schedule 13G filed by the Reporting Persons on December 18, 2024. Exhibit 99.2 Schedule of Direct Warrant Holders Oaktree Fund Advisors, LLC /s/ Henry Orren 05/15/2025 Oaktree Capital Management LP /s/ Henry Orren 05/15/2025 Oaktree Capital Holdings, LLC /s/ Henry Orren 05/15/2025 Oaktree Capital Group Holdings GP, LLC /s/ Henry Orren 05/15/2025