Solas Capital Management (FENC) reports 1.89M Fennec shares, a 5.4% ownership stake

Rhea-AI Filing Summary

Solas Capital Management, LLC and Frederick Tucker Golden report beneficial ownership of Fennec Pharmaceuticals Inc. common shares. They each report 1,889,366 shares of common stock, representing 5.4% of the class, held through a fund and another private fund they manage. The percentage is based on 34,737,030 shares outstanding as of May 12, 2026. They report no sole voting or dispositive power, but shared voting and shared dispositive power over all 1,889,366 shares. The funds themselves expressly disclaim beneficial ownership of the reported securities under Rule 13d-4.

Key Figures

Beneficially owned shares: 1,889,366 shares Ownership percentage: 5.4% Shares outstanding: 34,737,030 shares +3 more

6 metrics

Beneficially owned shares 1,889,366 shares Common shares of Fennec Pharmaceuticals beneficially owned by each reporting person

Ownership percentage 5.4% Portion of Fennec Pharmaceuticals common stock class beneficially owned

Shares outstanding 34,737,030 shares Fennec Pharmaceuticals common shares outstanding as of May 12, 2026

Sole voting power 0 shares Shares over which each reporting person has sole voting power

Shared voting power 1,889,366 shares Shares over which each reporting person has shared voting power

Shared dispositive power 1,889,366 shares Shares over which each reporting person has shared dispositive power

Key Terms

beneficial owner, shared voting power, shared dispositive power, Investment Advisers Act of 1940, +1 more

5 terms

beneficial owner financial

"may be deemed to be the beneficial owners of all shares of Common Stock"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

shared voting power financial

"Shared Voting Power 1,889,366.00"

Shared voting power occurs when two or more parties jointly have the right to vote or decide how a block of company shares is cast, like co-owners who must agree before moving a piece of furniture. Investors care because who controls voting rights affects board elections, major corporate decisions and takeover outcomes, and shared control can alter regulatory disclosures and the practical influence any holder has over a company’s direction and value.

shared dispositive power financial

"Shared Dispositive Power 1,889,366.00"

Investment Advisers Act of 1940 regulatory

"is an investment adviser that is registered under the Investment Advisers Act of 1940"

A U.S. federal law that sets rules for people and firms who give investment advice, requiring them to register with regulators, be honest about conflicts, keep records, and follow basic standards of care. It matters to investors because those rules act like licensing and consumer protections — similar to having safety standards for a mechanic — helping ensure advisers act in clients’ financial interests and reducing the risk of fraud or misuse of funds.

Rule 13d-4 regulatory

"Pursuant to Rule 13d-4 , as amended, each of the Fund and the Other Fund expressly disclaims"

FAQ

What ownership stake in FENC does Solas Capital Management report in this Schedule 13G/A?

Solas Capital Management and Frederick Tucker Golden report beneficial ownership of 1,889,366 Fennec Pharmaceuticals (FENC) common shares, representing 5.4% of the outstanding class, based on 34,737,030 shares outstanding as of May 12, 2026.

How much voting power over FENC shares does Solas Capital Management have?

Solas Capital Management and Frederick Tucker Golden report 0 shares with sole voting power and 1,889,366 shares with shared voting power, matching their total reported beneficial ownership in Fennec Pharmaceuticals common stock.

What percentage of FENC’s common stock is owned according to this filing?

The filing states that Solas Capital Management and Frederick Tucker Golden beneficially own 5.4% of Fennec Pharmaceuticals’ common shares, calculated using 34,737,030 shares outstanding as of May 12, 2026, as represented by the issuer.

Who are the reporting persons in this FENC Schedule 13G/A amendment?

The reporting persons are Solas Capital Management, LLC, a Delaware investment adviser, and Frederick Tucker Golden, a U.S. citizen and Portfolio Manager of Solas, each reporting the same 1,889,366 Fennec Pharmaceuticals common shares as beneficially owned.

Do the funds themselves claim beneficial ownership of the FENC shares?

No. The filing states that the Fund and the Other Fund, which hold Fennec Pharmaceuticals shares for their investors, expressly disclaim beneficial ownership of the reported securities under Rule 13d-4, despite Solas and Frederick Tucker Golden being deemed beneficial owners.

What dispositive power over FENC shares is reported by Solas Capital Management?

Solas Capital Management and Frederick Tucker Golden report 0 shares with sole dispositive power and 1,889,366 shares with shared dispositive power in Fennec Pharmaceuticals, matching their reported shared voting power and beneficial ownership.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Available on EDGAR 08/14/2026 - 10:41 AM Accepted by SEC EDGAR 08/14/2026 - 10:38 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 4)

FENNEC PHARMACEUTICALS INC.

(Name of Issuer)

Common Shares, no par value

(Title of Class of Securities)

31447P100

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 31447P100

1

Names of Reporting Persons

Solas Capital Management, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,889,366.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,889,366.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,889,366.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.4 %

12

Type of Reporting Person (See Instructions)

IA, HC, OO

SCHEDULE 13G

CUSIP Number(s): 31447P100

1

Names of Reporting Persons

FREDERICK TUCKER GOLDEN

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 1,889,366.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 1,889,366.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,889,366.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.4 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: FENNEC PHARMACEUTICALS INC.
(b)	Address of issuer's principal executive offices: PO BOX 13628, 68 TW ALEXANDER DRIVE, RESEARCH TRIANGLE PARK, NORTH CAROLINA, 27709.
Item 2.
(a)	Name of person filing: Solas Capital Management, LLC Frederick Tucker Golden
(b)	Address or principal business office or, if none, residence: Solas Capital Management, LLC 1063 Post Road, 2nd Floor Darien, CT 06820 Frederick Tucker Golden c/o Solas Capital Management, LLC 1063 Post Road, 2nd Floor Darien, CT 06820
(c)	Citizenship: Solas Capital Management, LLC - Delaware Frederick Tucker Golden - United States
(d)	Title of class of securities: Common Shares, no par value
(e)	CUSIP No.: 31447P100
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: Solas Capital Management, LLC is an investment adviser that is registered under the Investment Advisers Act of 1940. Solas Capital Management, LLC, which serves as the investment manager to a private fund (the "Fund") and as sub-adviser to another private fund (the "Other Fund"), which hold securities for the benefit of their investors, and Mr. Frederick Tucker Golden, as Portfolio Manager of Solas Capital Management, LLC, with the power to exercise investment and voting discretion, may be deemed to be the beneficial owners of all shares of Common Stock held by the Fund and by the Other Fund. Pursuant to Rule 13d-4 under the Securities Exchange Act of 1934, as amended, each of the Fund and the Other Fund expressly disclaims beneficial ownership over any of the securities reported in this statement, and the filing of this statement shall not be construed as an admission that either the Fund or the Other Fund are the beneficial owner of any of the securities reported herein. Solas Capital Management, LLC - 1,889,366 Frederick Tucker Golden - 1,889,366
(b)	Percent of class: Ownership percentage is based on 34,737,030 shares of common stock outstanding as of May 12, 2026, as represented by the Issuer in the Form 10-Q filed with the Securities and Exchange Commission on May 14, 2026. Solas Capital Management, LLC - 5.4% Frederick Tucker Golden - 5.4%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Solas Capital Management, LLC - 0 Frederick Tucker Golden - 0
	(ii) Shared power to vote or to direct the vote: Solas Capital Management, LLC - 1,889,366 Frederick Tucker Golden - 1,889,366
	(iii) Sole power to dispose or to direct the disposition of: Solas Capital Management, LLC - 0 Frederick Tucker Golden - 0
	(iv) Shared power to dispose or to direct the disposition of: Solas Capital Management, LLC - 1,889,366 Frederick Tucker Golden - 1,889,366
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. See Notes above.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Notes above.
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and 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.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Solas Capital Management, LLC

Signature:	/s/ Frederick Tucker Golden
Name/Title:	General Partner, Solas Capital Holdings, LP, its Member
Date:	08/14/2026

FREDERICK TUCKER GOLDEN

Signature:	/s/ Frederick Tucker Golden
Name/Title:	Frederick Tucker Golden
Date:	08/14/2026