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Viskase Holdings, Inc. (ENZN) reports corporate, governance, and capital-structure developments tied to its public-company transition from Enzon Pharmaceuticals, Inc. Recent company updates include completion of an exchange offer for Series C Non-Convertible Redeemable Preferred Stock, material agreements, shareholder voting matters, and changes affecting common and preferred equity.
Recurring ENZN news also covers governance actions, operating and financial results, risk-factor updates, and clinical or regulatory disclosures associated with the issuer's legacy reporting history. After the completed merger and name change, company developments include matters involving Viskase Companies, LLC as a wholly owned subsidiary.
Enzon (OTCQB: ENZN) announced completion of its exchange offer to convert Series C Non-Convertible Redeemable Preferred Stock into common stock. The offer expired March 24, 2026 at 5:00 p.m. ET. 339 shares were validly tendered and accepted, representing less than 1% of 40,000 outstanding Series C shares. The offer was made via a prospectus/consent solicitation filed January 28, 2026 and declared effective January 30, 2026. Continental Stock Transfer & Trust Company served as depositary.
Enzon (OTCQB: ENZN) announced the previously approved 1-for-100 reverse stock split effective March 24, 2026 at 4:30 pm ET. Post-split shares are expected to trade on the OTCQB on March 25, 2026 under temporary symbol ENZND for 20 trading days.
No fractional shares will be issued; fractional entitlements will receive a cash payment. The reverse split was completed to free authorized shares for the anticipated merger with Viskase Companies and to support share issuances under the Company’s exchange offer for Series C preferred stock.
Enzon (OTCQB: ENZN) extended its exchange offer for Series C Non-Convertible Redeemable Preferred Stock to 5:00 p.m. ET on March 24, 2026. As of 5:00 p.m. ET on March 18, 2026, 339 shares were validly tendered, under 1% of 40,000 outstanding Series C shares. The exchange ratio uses each share's liquidation preference divided by $7.83 after the Reverse Stock Split. Deposit and exchange agents and an information agent remain appointed; previously tendered shares need no re-tendering.
Enzon (OTCQB: ENZN) extended its exchange offer for Series C Non-Convertible Redeemable Preferred Stock. The offer now expires at 5:00 p.m. ET on March 19, 2026, unless further extended. As of March 13, 2026, 342 shares were validly tendered, under 1% of 40,000 outstanding.
Each Series C share may be exchanged for Common Stock equal to the share's liquidation preference divided by $7.83 (post‑reverse split). Deposit and exchange agents and an information agent are appointed for tender procedures.
Enzon (OTCQB: ENZN) extended its exchange offer for Series C Non-Convertible Redeemable Preferred Stock to 5:00 p.m. ET on March 16, 2026. The offer lets holders exchange Series C preferred shares for Enzon common stock based on each share's liquidation preference divided by $7.83 after a reverse stock split.
As of 5:00 p.m. ET on March 10, 2026, 340 shares had been validly tendered and not withdrawn, representing less than 1% of the 40,000 Series C shares outstanding.
Enzon (OTCQB: ENZN) extended its exchange offer for Series C non-convertible redeemable preferred stock to one minute after 11:59 p.m. ET on March 11, 2026. As of 5:00 p.m. ET on March 6, 2026, 339 shares were validly tendered, representing <1% of 40,000 outstanding shares. The exchange rate uses each share's liquidation preference divided by $7.83 after the reverse stock split. All other offer terms remain unchanged; holders who already tendered need not re-tender.
Enzon (OTCQB: ENZN) extended its exchange offer for Series C Non-Convertible Redeemable Preferred Stock to expire one minute after 11:59 p.m. ET on March 9, 2026, unless further extended. As of 5:00 p.m. ET on Feb. 26, 2026, 12 shares had been validly tendered, representing <0.001% of the 40,000 Series C shares outstanding.
The offer lets holders exchange each Series C share for Common Stock based on the share’s liquidation preference divided by $7.83 (post-reverse split). Terms remain as set in the January 28–30, 2026 filings.
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.