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.
CRANFORD, N.J., March 25, 2026 (GLOBE NEWSWIRE) -- Enzon Pharmaceuticals, Inc. (OTCQB: ENZN) (“Enzon” or the “Company”) today announced that it has completed its previously announced exchange offer to each holder of its Series C Non-Convertible Redeemable Preferred Stock, $0.01 par value per share (the “Series C Preferred Stock”), to exchange such Series C Preferred Stock for shares of Enzon’s common stock, $0.01 par value per share (the “Common Stock”). The offer and the withdrawal rights expired at 5:00 p.m., Eastern Time, on March 24, 2026. The offer was made pursuant to the Prospectus/Consent Solicitation/Offer to Exchange filed with the U.S. Securities and Exchange Commission on January 28, 2026 and declared effective on January 30, 2026 (the “Prospectus/Consent Solicitation/Offer to Exchange”).
Continental Stock Transfer & Trust Company, the depositary for the offer has advised Enzon that, as of such time, a total of 339 shares of Series C Preferred Stock were validly tendered and not properly withdrawn, representing less than 1% of the outstanding shares of Series C Preferred Stock (based on 40,000 shares of Series C Preferred Stock outstanding as of March 24, 2026). The shares of Series C Preferred Stock that were validly tendered and not properly withdrawn pursuant to the offer have been accepted for exchange by Enzon.
About Enzon Pharmaceuticals, Inc.
Enzon Pharmaceuticals, Inc., together with its subsidiary, is positioned as a public company acquisition vehicle, that has sought to become an acquisition platform.
For Media Inquiries:
Richard L. Feinstein, CEO and CFO Email: rlfeinsteincpa@enzon.com
FAQ
What did Enzon (ENZN) announce about the Series C exchange on March 25, 2026?
Enzon announced it completed the exchange offer to convert Series C preferred into common stock. According to the company, the exchange offer expired March 24, 2026 and the tendered shares were accepted for exchange.
How many Series C preferred shares did Enzon (ENZN) receive in the exchange offer and what percent was that?
A total of 339 shares of Series C preferred were validly tendered and accepted for exchange. According to the company, those 339 shares represent less than 1% of the 40,000 outstanding Series C shares as of March 24, 2026.
When was Enzon's exchange offer for Series C declared effective and when was the prospectus filed?
The prospectus/consent solicitation/offer to exchange was filed January 28, 2026 and declared effective January 30, 2026. According to the company, the offer and withdrawal rights expired March 24, 2026 at 5:00 p.m. Eastern Time.
Who served as depositary for Enzon's (ENZN) Series C exchange offer and what happened to tendered shares?
Continental Stock Transfer & Trust Company served as depositary for the exchange offer. According to the company, the depositary advised that validly tendered and not withdrawn shares were accepted for exchange by Enzon.
