---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-102127"
form_type: "8-K"
ticker: "ENZN"
cik: "0000727510"
company_name: "Viskase Holdings, Inc."
filed_at: "2025-10-24T23:59:59+00:00"
generated_at: "2026-05-17T02:23:41.370791+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Enzon amends Viskase merger: Viskase holders get 55% of combined co; reverse split 1-for-100

## Summary
- Viskase stockholders will own 55% of combined company post-merger (up from prior ratio); Enzon stockholders 45%.
- Enzon to effect a 1-for-100 reverse stock split before the merger closes.
- Merger termination deadline extended from Dec 31, 2025 to Mar 31, 2026.
- Minimum cash Enzon must have at closing reduced; IEH to exchange Series C Preferred for common based on 20-day VWAP.

## SEC filing metadata
- accession: 0001104659-25-102127
- form_type: 8-K
- ticker: ENZN
- cik: 0000727510
- company_name: Viskase Holdings, Inc.
- filed_at: 2025-10-24T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/727510/000110465925102127/0001104659-25-102127-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/727510/000110465925102127/tm2529311d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-102127
- JSON: https://secwatch.observer/filing/0001104659-25-102127.json
- Plain text: https://secwatch.observer/filing/0001104659-25-102127.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.