{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-25-121187","form_type":"8-K","ticker":"FBIO","cik":"0001429260","company_name":"Fortress Biotech, Inc.","filed_at":"2025-12-15T23:59:59+00:00","discovered_at":"2026-05-14T18:02:39.391309+00:00","generated_at":"2026-05-16T13:11:53.143306+00:00","sec_items":["1.01","2.03","3.02"],"event_type":"debt","sentiment":"neutral","materiality_score":0.6,"calibrated_materiality_score":0.6,"confidence":"high","headline":"Fortress Biotech amends credit agreement with Oaktree; extends maturity to June 2028, issues warrants","bullets":["Maturity extended from July 2027 to June 30, 2028; $29.5M outstanding on $35M initial borrowing.","Principal repayment schedule set: 12.5% due Sep 30, 2027, 12.5% Dec 31, 2027, 37.5% Mar 31, 2028, 37.5% at maturity.","Journey Medical minimum net sales covenant raised: $60M (Dec 2025) to $80M (Dec 2026 and quarterly thereafter).","Warrants issued to lenders for 600k shares at $2.62/share, exercisable immediately, expiring July 25, 2031.","Covenant threshold: Minimum Net Sales Test waived if outstanding principal ≤ $10M."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-25-121187","json":"https://secwatch.observer/filing/0001104659-25-121187.json","markdown":"https://secwatch.observer/filing/0001104659-25-121187.md","text":"https://secwatch.observer/filing/0001104659-25-121187.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1429260/000110465925121187/0001104659-25-121187-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1429260/000110465925121187/fbio-20251212x8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T13:11:53.143306+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":"ad815d256d2dea71eb91e82da6b09ae0f0ae4879","claim":"Fortress Biotech, Inc. amended credit facility of up to $50.0 million with Oaktree Fund Administration, LLC maturing June 30, 2028.","evidence_excerpt":"Under the terms of the Amendment, the Loan’s maturity date was extended from July 25, 2027 to June 30, 2028.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/1429260/000110465925121187/0001104659-25-121187-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"credit facility"},{"label":"Principal","value":"up to $50.0 million"},{"label":"Counterparty","value":"Oaktree Fund Administration, LLC"},{"label":"Maturity","value":"June 30, 2028"},{"label":"Event","value":"amendment"}]}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}