---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-22-013838"
form_type: "8-K"
ticker: "FENC"
cik: "0001211583"
company_name: "FENNEC PHARMACEUTICALS INC."
filed_at: "2022-08-22T23:59:59+00:00"
generated_at: "2026-06-23T22:12:25.963987+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Fennec closes $5M initial tranche of $45M senior secured note; $20M on FDA approval of PEDMARK

## Summary
- First closing $5M senior secured note; $20M upon FDA approval of PEDMARK; up to $20M additional.
- Notes convertible at $8.11/share (20% premium to VWAP); interest greater of Prime or 3.5% + 4.5% margin, 24 months PIK.
- Matures Aug 1, 2027; company redemption at 110% before Aug 2026, 107.5% thereafter; change-of-control put.
- Repaid all Bridge Bank secured debt with first closing proceeds.
- Commitment fee 2% – half in warrants for 55,498 shares at $8.11, 5-year term.

## SEC filing metadata
- accession: 0001558370-22-013838
- form_type: 8-K
- ticker: FENC
- cik: 0001211583
- company_name: FENNEC PHARMACEUTICALS INC.
- filed_at: 2022-08-22T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1211583/000155837022013838/0001558370-22-013838-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1211583/000155837022013838/fencf-20220822x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-22-013838
- JSON: https://secwatch.observer/filing/0001558370-22-013838.json
- Plain text: https://secwatch.observer/filing/0001558370-22-013838.txt

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