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Financings

Fennec Pharmaceuticals Announces Completion Of Full Debt Redemption

By The Northwire Desk — AI Analysis Nov 19, 2025 · 07:03 FRX · 12.165 FENNEC PHARMACEUTICALS INC. J
FRX · Price

Executive Summary

  • Fennec Pharmaceuticals repurchased and redeemed all outstanding convertible notes held by Petrichor Opportunities Fund I LP and its intermediate series, eliminating all debt on the balance sheet.
  • The total redemption price was $21,729,455.30, comprising principal, accrued interest, and a redemption fee.
  • Repayment was funded by proceeds from the company’s recently closed underwritten public offering in the United States (Nov 17 2025) and concurrent private placement in Canada (Nov 18 2025).

Key Details

  • Redemption Amount: $21,729,455.30 total
  • Principal: $19,476,655.48
  • Accrued interest: $305,134.27
  • Redemption fee: $1,947,665.55
  • Notes Repurchased: Convertible notes issued to Petrichor Opportunities Fund I LP and Petrichor Opportunities Fund I Intermediate LP.
  • Interest Terms (pre‑redemption): Prime rate + 4.5% margin, with a floor of 3.5%.
  • Maturity Date (prior to redemption): August 19 2027.
  • Funding Source: Proceeds from the underwritten public offering closed on November 17 2025 (U.S.) and private placement closed on November 18 2025 (Canada).
  • Resulting Capital Structure: No outstanding debt after redemption; balance sheet now free of convertible note obligations.

Notable Quotes

(No direct quotes were provided in the release.)

Read the original news release →

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