secwatch.observer — SEC 8-K summary
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Issuer:     Fortress Biotech, Inc. (FBIO)
CIK:        0001429260
Form:       8-K
Filed at:   2024-07-05T23:59:59+00:00
Accession:  0001558370-24-009677
Event type: dividend
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Fortress Biotech pauses monthly dividend on Series A Preferred Stock
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- Dividend of $0.1953125/share on 9.375% Series A Cumulative Redeemable Perpetual Preferred Stock paused effective July 1, 2024; no payment on July 31, 2024.
- Pause defers approximately $0.7 million in cash dividend payments per month; dividends continue to accrue and cumulate.
- Board will reassess regularly based on profitability and cash flow; cited upcoming potential regulatory approvals (DFD-29, cosibelimab, CUTX-101, and CAEL-101) as inflection points.
- CEO Lindsay Rosenwald noted the pause aims to maintain financial flexibility ahead of up to four potential NDA/BLA submissions or approvals in the next 12-18 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1429260/000155837024009677/0001558370-24-009677-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1429260/000155837024009677/fbio-20240705x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-24-009677

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