{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-123728","form_type":"8-K","ticker":"FENC","cik":"0001211583","company_name":"FENNEC PHARMACEUTICALS INC.","filed_at":"2023-12-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:28.443709+00:00","generated_at":"2026-06-07T16:52:30.216163+00:00","sec_items":["1.01","2.03","3.02","8.01","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Fennec closes $5M tranche of convertible notes with Petrichor; extends remaining $15M draw to Dec 2024","bullets":["Closed third tranche of $5M senior secured convertible notes under existing SPA with Petrichor.","Conversion price set at $7.89/share (20% premium to VWAP prior to PEDMARK FDA approval on Sep 20, 2022).","Note matures Aug 19, 2027; interest rate = greater of US Prime or 3.5% + 4.5% margin; PIK for first 12 months.","SPA Amendment extends draw period for remaining $15M from Dec 31, 2023 to Dec 31, 2024.","Proceeds support global launch of PEDMARK and market expansion into adolescent/young adult population."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-123728","json":"https://secwatch.observer/filing/0001104659-23-123728.json","markdown":"https://secwatch.observer/filing/0001104659-23-123728.md","text":"https://secwatch.observer/filing/0001104659-23-123728.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1211583/000110465923123728/0001104659-23-123728-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1211583/000110465923123728/tm2332198d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-07T16:52:30.216163+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"82dfa658fdd6f172cc760d06b2d4e3d595b3db54","claim":"FENNEC PHARMACEUTICALS INC. incurred convertible notes of $5,000,000 with Petrichor Opportunities Fund I LP at greater of (a) US Prime Rate or (b) three and one-half percent (3.5%), plus the maturing August 19, 2027.","evidence_excerpt":"On December 4, 2023, the Company closed a third tranche under the SPA in the amount of $5,000,000 and issued the Investor a Note in the same amount (the “Third Closing Note”).","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1211583/000110465923123728/0001104659-23-123728-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$5,000,000"},{"label":"Counterparty","value":"Petrichor Opportunities Fund I LP"},{"label":"Rate","value":"greater of (a) US Prime Rate or (b) three and one-half percent (3.5%), plus the"},{"label":"Maturity","value":"August 19, 2027"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"79219a00ea365c400dacd59ab08081998a83d2b6","claim":"FENNEC PHARMACEUTICALS INC. entered into First Amendment to Securities Purchase Agreement with Petrichor Opportunities Fund I LP valued at extended draw period to December 31, 2024 for remaining $15,000,000 (effective 2023-12-04).","evidence_excerpt":"Also on December 4, 2023, the Company entered into a First Amendment to the Securities Purchase Agreement (the “SPA Amendment”) with the Investor, which, among other things, extends the period that the Company may draw the remaining $15,000,000 under the SPA from December 31, 2023 to December 31, 2024.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1211583/000110465923123728/0001104659-23-123728-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Petrichor Opportunities Fund I LP"},{"label":"Value","value":"extended draw period to December 31, 2024 for remaining $15,000,000"},{"label":"Effective","value":"2023-12-04"}],"fact_type":"material_agreement"},{"claim_id":"dfb76f9bba09c1492ac62e623f0f336e796e022c","claim":"FENNEC PHARMACEUTICALS INC. entered into Third Closing Note with Petrichor Opportunities Fund I LP valued at issued $5,000,000 senior secured floating rate convertible note, convertible at $7.89 per share, mat (effective 2023-12-04).","evidence_excerpt":"On December 4, 2023, the Company closed a third tranche under the SPA in the amount of $5,000,000 and issued the Investor a Note in the same amount (the “Third Closing Note”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1211583/000110465923123728/0001104659-23-123728-index.htm","confidence":0.95,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"Petrichor Opportunities Fund I LP"},{"label":"Value","value":"issued $5,000,000 senior secured floating rate convertible note, convertible at $7.89 per share, mat"},{"label":"Effective","value":"2023-12-04"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}