---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-24-010208"
form_type: "8-K"
ticker: "FBIO"
cik: "0001429260"
company_name: "Fortress Biotech, Inc."
filed_at: "2024-07-25T23:59:59+00:00"
generated_at: "2026-05-31T16:14:59.407031+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Fortress Biotech enters $50M Oaktree loan, repays prior $50M, extends maturity to 2027

## Summary
- Borrowed $35M initially under new $50M senior secured credit agreement with Oaktree; eligible for additional $15M at lenders' discretion.
- Interest rate of 3-month SOFR + 7.625% (2.50% floor, 5.75% cap); 30-month interest-only period, maturity July 25, 2027.
- Repaid and terminated existing $50M loan due August 2025; issued warrants to purchase 506,390 shares at $2.0735 per share.
- Covenants include minimum liquidity of $7M and Journey Medical minimum net sales of $50M trailing 12 months, tested quarterly.
- Company cites potential for up to three regulatory approvals on NDAs/BLAs in next 12 months and possible fourth BLA filing in 2025.

## SEC filing metadata
- accession: 0001558370-24-010208
- form_type: 8-K
- ticker: FBIO
- cik: 0001429260
- company_name: Fortress Biotech, Inc.
- filed_at: 2024-07-25T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 1.02, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1429260/000155837024010208/0001558370-24-010208-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1429260/000155837024010208/fbio-20240725x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-24-010208
- JSON: https://secwatch.observer/filing/0001558370-24-010208.json
- Plain text: https://secwatch.observer/filing/0001558370-24-010208.txt

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