Fennec (FENC) Pharmaceuticals 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 $21,729,455.30. Before the repurchase and redemption, the Petrichor notes bore interest at a rate equal to the prime rate, as published in The Wall Street Journal, with a floor of 3.5%, plus an applicable margin rate of 4.5% and, prior to our agreement with Petrichor to repurchase and redeem the Petrichor Notes, were set to mature on August 19, 2027.
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