Welcome to our dedicated page for Enzon Pharma news (Ticker: ENZN), a resource for investors and traders seeking the latest updates and insights on Enzon Pharma stock.
Enzon Pharmaceuticals, Inc. (ENZN) generates news primarily through its role as a public company acquisition vehicle and its involvement in merger activity. Recent coverage focuses on its definitive Agreement and Plan of Merger with Viskase Companies, Inc., under which Viskase will merge with and into a wholly owned subsidiary of Enzon in an all-stock transaction. Company announcements describe that, following the merger, the combined company is expected to operate under the name "Viskase Holdings, Inc." and trade on an OTC market tier.
News about ENZN highlights key transaction terms, including the exchange ratios between Enzon common stock, Enzon’s Series C Non-Convertible Redeemable Preferred Stock, and Viskase common stock. Updates have covered changes to these ratios, the anticipated post-merger ownership split in which current Viskase stockholders are expected to own 55% of the combined company, and the requirement for Enzon to effect a 1-for-100 reverse stock split of its common stock prior to the merger’s effective time.
Additional news items relate to amendments to Enzon’s Section 382 Rights Agreement, as disclosed in Form 8-K filings. These stories describe repeated adjustments to the Final Expiration Date of the rights issued under the agreement and management’s view that the revised dates are in the best interests of the company and its stockholders. Coverage also notes Enzon’s statements that the merger structure is intended to preserve its net operating losses and other tax benefits for potential use by the combined company.
Investors following ENZN news can expect updates on the progress of the Viskase merger, changes to transaction terms, regulatory filing milestones such as the planned Form S-4 registration statement, and further amendments to rights agreements or support agreements involving major stockholders.
Enzon (OTCQB: ENZN) commenced an exchange offer allowing holders of its Series C Non-Convertible Redeemable Preferred Stock to exchange outstanding preferred shares for Enzon common stock. Each Series C share exchanges for common stock equal to its liquidation preference divided by $7.83 after a reverse stock split. The offer expires 1 minute after 11:59 p.m. ET on February 27, 2026. There are 40,000 Series C shares outstanding as of January 30, 2026. HKL & Co. is Information Agent; Continental Stock Transfer & Trust is Exchange Agent.
Enzon (OTCQB: ENZN) and Viskase (OTC Pink: VKSC) amended their merger agreement on Oct 24, 2025. Under the Amendment, Viskase stockholders will own 55% and Enzon stockholders 45% of the combined company.
Key changes include using the 20-day VWAP to convert Series C preferred into Enzon common, a 1-for-100 reverse stock split of Enzon common before closing, a reduction in Enzon's required closing cash, and an extension of the termination deadline to Mar 31, 2026. Icahn Enterprises Holdings amended its support agreement to deliver consents and exchange its Series C preferred prior to closing. Enzon expects combined company NOLs to be preserved.
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