---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-22-014629"
form_type: "8-K"
ticker: "FENC"
cik: "0001211583"
company_name: "FENNEC PHARMACEUTICALS INC."
filed_at: "2022-09-26T23:59:59+00:00"
generated_at: "2026-06-23T07:24:23.964395+00:00"
event_type: "debt"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Fennec closes $20M second tranche of Petrichor notes triggered by FDA approval of PEDMARK

## Summary
- Second closing of $20M senior secured convertible notes funded after FDA approved PEDMARK on Sept 20, 2022.
- Notes convert at $7.89/share, a 20% premium to 5-day VWAP prior to approval; maturity Aug 19, 2027.
- Interest at greater of Prime or 3.5% plus 4.5% margin; first 24 months' 3.5% interest paid-in-kind.
- Company may draw up to an additional $20M before Dec 31, 2023 upon mutual agreement with Petrichor.
- Commitment fee of 2% paid in warrants exercisable at $8.11 with 5-year term.

## SEC filing metadata
- accession: 0001558370-22-014629
- form_type: 8-K
- ticker: FENC
- cik: 0001211583
- company_name: FENNEC PHARMACEUTICALS INC.
- filed_at: 2022-09-26T23:59:59+00:00
- event_type: debt
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1211583/000155837022014629/0001558370-22-014629-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1211583/000155837022014629/fencf-20220926x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-22-014629
- JSON: https://secwatch.observer/filing/0001558370-22-014629.json
- Plain text: https://secwatch.observer/filing/0001558370-22-014629.txt

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