Published: Saturday, June 21, 2025 · 1:30 AM | Updated: Saturday, June 21, 2025 · 1:30 AM
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- Enzon Pharmaceuticals (OTCQX: ENZN) and Viskase Companies (OTC Pink: VKSC) announce a merger agreement.
- The new entity, Viskase Holdings, will be primarily owned by Viskase stockholders at 84.1%.
- Timothy P. Feast, current CEO of Viskase, will head the combined company.
Enzon Pharmaceuticals, Inc. (OTCQX: ENZN) and Viskase Companies, Inc. (OTC Pink: VKSC) have agreed to a merger in an all-stock transaction that will see Viskase merge with a subsidiary of Enzon. The resultant company will operate under the name Viskase Holdings and will be traded on the OTCQX market.
Upon completion of the merger, ownership of the new company will be allocated with Viskase stockholders holding 84.1%, Series C Preferred stockholders 13.84%, and current Enzon stockholders owning 2.06%. This transaction has received unanimous approval from both companies’ special committees and boards.
Timothy P. Feast, the current CEO of Viskase, will assume leadership of the combined firm. The merger entails converting Viskase’s common stock and Enzon’s Series C Preferred Stock into Enzon Common Stock at predetermined exchange ratios. Major stakeholder IEH, along with its affiliates, has agreed to back the merger and exchange their Series C Preferred Stock.
The completion of this transaction is contingent on both shareholder and regulatory approvals, maintaining the transaction’s scheduled path to closure.
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