Fennec Pharmaceuticals Announces Completion Of Full Debt Redemption
Fennec Pharmaceuticals (NASDAQ:FENC) announced it has repurchased and redeemed all outstanding convertible notes held by Petrichor Opportunities Fund I LP and Petrichor Opportunities Fund I Intermediate LP, leaving the company with no outstanding debt.
The repurchase used proceeds from the company’s underwritten public offering in the U.S. and concurrent private placement in Canada, which closed on November 17–18, 2025. The aggregate repurchase and redemption price was $21,729,455.30 (comprised of $19,476,655.48 principal, $305,134.27 accrued interest, and a $1,947,665.55 redemption fee). The Petrichor notes had carried interest at prime with a 3.5% floor plus a 4.5% margin and were set to mature on August 19, 2027.
Fennec Pharmaceuticals (NASDAQ:FENC) ha annunciato di aver riacquistato e rimborsato tutte le obbligazioni convertibili in circolazione detenute da Petrichor Opportunities Fund I LP e Petrichor Opportunities Fund I Intermediate LP, lasciando l'azienda con nessun debito pendente.
Il riacquisto è stato finanziato con i proventi dell'offerta pubblica sottoscritta negli Stati Uniti e della collocazione privata contemporanea in Canada, che si è chiusa il 17-18 novembre 2025. Il prezzo complessivo di riacquisto e rimborso è stato di $21,729,455.30 (comprendente capitale di $19,476,655.48, interessi maturati di $305,134.27 e una commissione di rimborso di $1,947,665.55). Le note Petrichor avevano una cedola al tasso prime con una soglia del 3,5% e un margine del 4,5% e scadevano il 19 agosto 2027.
Fennec Pharmaceuticals (NASDAQ:FENC) anunció que ha recomprado y rescatado todas las notas convertibles en circulación en poder de Petrichor Opportunities Fund I LP y Petrichor Opportunities Fund I Intermediate LP, dejando a la empresa con ninguna deuda pendiente.
La recompra se llevó a cabo con los ingresos de la oferta pública suscrita en EE.UU. y de la colocación privada concurrente en Canadá, que se cerró el 17–18 de noviembre de 2025. El precio agregado de recompra y rescate fue de $21,729,455.30 (compuesto por principal de $19,476,655.48, intereses devengados de $305,134.27 y una comisión de rescate de $1,947,665.55). Las notas Petrichor llevaban un interés al tipo prime con un piso del 3,5% más un margen del 4,5% y vencían el 19 de noviembre de 2027.
Fennec Pharmaceuticals (NASDAQ:FENC)는 Petrichor Opportunities Fund I LP 및 Petrichor Opportunities Fund I Intermediate LP가 보유한 모든 발행된 전환사채를 재매입 및 상환했다고 발표했습니다. 이로써 회사의 미지급 부채가 없습니다.
해당 재매입은 미국에서의 공모가 및 캐나다에서의 동시 비공개 배정으로 조달된 수익으로 진행되었으며, 2025년 11월 17-18일에 종료되었습니다. 재매입 및 상환 총액은 $21,729,455.30로 구성되며, 원금 $19,476,655.48, 발생 이자 $305,134.27, 상환 수수료 $1,947,665.55를 포함합니다. Petrichor의 노트는 프라임 금리로 3.5%의 하한과 4.5%의 마진이 적용되었고, 만기는 2027년 8월 19일였습니다.
Fennec Pharmaceuticals (NASDAQ:FENC) a annoncé avoir racheté et remboursé toutes les obligations convertibles en circulation détenues par Petrichor Opportunities Fund I LP et Petrichor Opportunities Fund I Intermediate LP, laissant l'entreprise avec aucune dette en cours.
Le rachat a été financé par les produits de l'offre publique souscrite aux États-Unis et d'un placement privé simultané au Canada, qui a clôturé le 17-18 novembre 2025. Le prix total de rachat et de remboursement s'élevait à $21,729,455.30 (composé de principal de $19,476,655.48, intérêts courus de $305,134.27 et des frais de remboursement de $1,947,665.55). Les notes Petrichor portaient un taux prime avec un plancher de 3,5 % et une marge de 4,5 %, et arrivaient à échéance le 19 août 2027.
Fennec Pharmaceuticals (NASDAQ:FENC) gab bekannt, dass es alle ausstehenden wandelbaren Anleihen, die von Petrichor Opportunities Fund I LP und Petrichor Opportunities Fund I Intermediate LP gehalten werden, zurückgekauft und abgelöst hat, dadurch besitzt das Unternehmen keine ausstehenden Schulden mehr.
Der Rückkauf erfolgte mit Mitteln aus dem von der Börse in den USA gebotenen öffentlichen Angebot und dem gleichzeitigen privaten Platzierungsangebot in Kanada, das am 17.–18. November 2025 abgeschlossen wurde. Der aggregierte Rückkauf- und Rückzahlungsbetrag belief sich auf $21,729,455.30 (bestehend aus dem Kapitalbetrag von $19,476,655.48, aufgelaufenen Zinsen von $305,134.27 und einer Rückzahlungsgebühr von $1,947,665.55). Die Petrichor-Anleihen trugen einen Zins bei Prime mit einer 3,5%-Untergrenze und einer Margin von 4,5% und hatten eine Fälligkeit am 19. August 2027.
Fennec Pharmaceuticals (NASDAQ:FENC) أعلنت أنها أعادت شراء وإصدار جميع السندات القابلة للتحويل القائمة التي تملكها Petrichor Opportunities Fund I LP و Petrichor Opportunities Fund I Intermediate LP، مما يجعل الشركة لا دين قائم لديها.
تم التمويل من عائدات العرض العام المكتتب في الولايات المتحدة والطرح الخاص المتزامن في كندا، الذي أغلق في 17–18 نوفمبر 2025. بلغ السعر الإجمالي لإعادة الشراء والاصدار $21,729,455.30 (يتكون من رأس المال $19,476,655.48، فوائد مستحقة $305,134.27، ورسوم الاسترداد $1,947,665.55). كانت سندات Petrichor تحمل فائدة عند Prime مع أرضية 3.5% وم هامش 4.5% وكانت ستحل في تاريخ 19 أغسطس 2027.
- Company reports no outstanding debt after redemption
- Eliminated notes that bore interest at prime with 3.5% floor + 4.5% margin
- Aggregate repurchase and redemption price of $21,729,455.30
- Paid a $1,947,665.55 redemption fee using offering proceeds closed Nov 17–18, 2025
RESEARCH TRIANGLE PARK, N.C., Nov. 19, 2025 (GLOBE NEWSWIRE) -- Fennec Pharmaceuticals Inc. (NASDAQ:FENC) (TSX:FRX) (“Fennec” or the “Company”), a specialty pharmaceutical company, today announced it has repurchased and redeemed all of Fennec’s outstanding convertible notes issued to Petrichor Opportunities Fund I LP and Petrichor Opportunities Fund I Intermediate LP using proceeds from the closing of the Company’s previously announced underwritten public offering in the United States and concurrent private placement in Canada, closed on November 17 and 18, 2025, respectively. The Company has no outstanding debt after the redemption of Petrichor’s convertible notes.
The aggregate repurchase and redemption price of the Petrichor notes was
About Fennec Pharmaceuticals
Fennec Pharmaceuticals Inc. is a specialty pharmaceutical company committed to the fight against ototoxicity in cancer patients who receive cisplatin-based chemotherapy. Fennec is focused on the commercialization of PEDMARK® to reduce the risk of platinum-induced ototoxicity in cancer patients. PEDMARK® received FDA approval in September 2022 and European Commission approval in June 2023 and United Kingdom (U.K.) approval in October 2023 under the brand name PEDMARQSI®.
In March 2024, Fennec entered into an exclusive licensing agreement under which Norgine Pharmaceuticals Ltd., a leading European specialist pharmaceutical company, will commercialize PEDMARQSI® in Europe, U.K., Australia and New Zealand. PEDMARQSI® is now commercially available in the U.K. and Germany.
PEDMARK® has received Orphan Drug Exclusivity in the U.S. and PEDMARQSI® has received Pediatric Use Marketing Authorization in Europe which includes eight years plus two years of data and market protection. Further, Fennec has patents providing protection for PEDMARK® until 2039 in both the U.S. and internationally.
Forward Looking Statements
Except for historical information described in this press release, all other statements are forward-looking. Words such as “believe,” “anticipate,” “plan,” “expect,” “estimate,” “intend,” “may,” “will,” or the negative of those terms, and similar expressions, are intended to identify forward-looking statements. Forward-looking statements are subject to certain risks and uncertainties inherent in the Company’s business that could cause actual results to vary, including the risks and uncertainties that regulatory and guideline developments may change, scientific data and/or manufacturing capabilities may not be sufficient to meet regulatory standards or receipt of required regulatory clearances or approvals, clinical results may not be replicated in actual patient settings, unforeseen global instability, including political instability, or instability from an outbreak of pandemic or contagious disease, such as the novel coronavirus (COVID-19), or surrounding the duration and severity of an outbreak, protection offered by the Company’s patents and patent applications may be challenged, invalidated or circumvented by its competitors, the available market for the Company’s products will not be as large as expected, the Company’s products will not be able to penetrate one or more targeted markets, revenues will not be sufficient to fund further development and clinical studies, the Company’s ability to obtain necessary capital when needed on acceptable terms or at all, and other risks detailed from time to time in the Company’s filings with the SEC including its Annual Report on Form 10-K for the year ended December 31, 2024. Fennec disclaims any obligation to update these forward-looking statements except as required by law.
For a more detailed discussion of related risk factors, please refer to our public filings available at www.sec.gov and www.sedar.com.
PEDMARK®, PEDMARQSI® and Fennec® are registered trademarks of Fennec Pharmaceuticals Inc.
©2025 Fennec Pharmaceuticals Inc. All rights reserved
For further information, please contact:
Investors:
Robert Andrade
Chief Financial Officer
Fennec Pharmaceuticals Inc.
+1 919-246-5299
Corporate and Media:
Lindsay Rocco
Elixir Health Public Relations
+1 862-596-1304
lrocco@elixirhealthpr.com
FAQ
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