Viskase Holdings, Inc. adopted a Section 382 tax benefits preservation plan and related rights agreement to help protect the value of its net operating loss carryforwards (NOLs). The Board declared a dividend of one purchase right for each share of common stock outstanding to holders of record on May 15, 2026.
Each right allows, under certain conditions, the purchase of one one-thousandth of a share of Series A-2 Junior Participating Preferred Stock at $30.00 per right. The plan is triggered if a holder’s beneficial ownership reaches 4.9% or more of the common stock (subject to grandfathering and exemptions), which is designed to reduce the risk of an “ownership change” that could limit use of NOLs. The rights plan generally expires on May 4, 2029, unless earlier redeemed, exchanged, terminated, or not approved by stockholders by May 4, 2027.
Viskase Holdings, Inc. adopted a Section 382 tax benefits preservation plan and related rights agreement to help protect the value of its net operating loss carryforwards (NOLs). The Board declared a dividend of one purchase right for each share of common stock outstanding to holders of record on May 15, 2026.
Each right allows, under certain conditions, the purchase of one one-thousandth of a share of Series A-2 Junior Participating Preferred Stock at $30.00 per right. The plan is triggered if a holder’s beneficial ownership reaches 4.9% or more of the common stock (subject to grandfathering and exemptions), which is designed to reduce the risk of an “ownership change” that could limit use of NOLs. The rights plan generally expires on May 4, 2029, unless earlier redeemed, exchanged, terminated, or not approved by stockholders by May 4, 2027.
Viskase Holdings, Inc. reports first-quarter 2026 results showing lower sales and a continued net loss while completing its reverse recapitalization merger with Enzon. Net sales were $86.5 million, down from $94.2 million a year earlier, and the company recorded a net loss of $6.7 million, improving from a $13.6 million loss. Operating loss narrowed to $4.3 million, aided by the absence of prior-year asset impairment and lower restructuring costs.
Cash and cash equivalents increased to $28.6 million, helped by $40.9 million of cash obtained in the merger and a $15.0 million private placement, while total debt stood at $130.8 million. The company’s Senior Credit Facility maturity was extended to August 13, 2027, but management states that the ability to refinance this facility is critical and that substantial doubt exists about Viskase’s ability to continue as a going concern. Common shares outstanding rose to 14,331,620 as of March 31, 2026, reflecting merger-related share issuance and equity financing.
Viskase Holdings, Inc. director Craig Pettit filed a Form 3, which is an initial statement of beneficial ownership for insiders. This filing shows his status as a director of the company but does not report any stock transactions or specific share holdings in the provided data.
Viskase Holdings, Inc., formerly Enzon Pharmaceuticals, filed an amended current report to add full-year 2025 financials for Viskase Companies and pro forma results combining Viskase with Enzon after their merger. The audited statements show 2025 net sales of $364,356 thousand and a net loss of $65,655 thousand, driven by lower gross margin, restructuring costs and asset impairments.
Grant Thornton LLP issued an unqualified opinion but emphasized that Viskase’s reliance on a Senior Credit Facility maturing in August 2026 raises substantial doubt about its ability to continue as a going concern. At year-end 2025, Viskase reported total assets of $402,142 thousand, short-term debt of $141,774 thousand and positive operating cash flow of $12,998 thousand, alongside significant pension obligations and global manufacturing operations.
Viskase Holdings, Inc. reported several board and committee changes. On April 29, 2026, directors Peter K. Shea and Randolph C. Read resigned from the Board, with both stating their decisions were not due to any disagreement with the company or its policies.
On April 30, 2026, the company appointed its President and Chief Executive Officer, Thomas D. Davis, and Craig Pettit to the Board to fill these vacancies. Davis will not receive additional compensation as a director beyond his existing employment agreement. Entities affiliated with Carl C. Icahn and Icahn Enterprises own approximately 93.7% of the company’s common stock.
Effective April 30, 2026, Jordan Bleznick joined the Audit Committee, which now consists of two members: Bleznick and Kenneth Shea, with Kenneth Shea serving as Chairman.
Viskase Holdings, Inc. (formerly Enzon Pharmaceuticals) filed an amended Form 10-K to add Part III information on directors, executive compensation, ownership and auditor matters for the year ended December 31, 2025. No financial statements are included in this amendment.
The filing explains the March 26, 2026 merger in which Viskase Companies became a wholly owned subsidiary and Enzon changed its name to Viskase Holdings and later effected a 1-for-100 reverse stock split. As of April 29, 2026, 14,331,620 common shares were outstanding and entities affiliated with Carl C. Icahn beneficially owned about 93.7% of the stock.
Viskase Holdings, Inc. announced that its wholly owned subsidiary Viskase Companies, LLC entered into a Seventh Amendment to its Credit Agreement, extending the debt maturity date from August 13, 2026 to August 13, 2027.
The amendment increases the Applicable Rate by 1.0 percentage point on revolving loans, term loans and letters of credit, adjusts the definition of Consolidated EBITDA for certain restructuring and transaction costs, and permits asset dispositions at the Osceola Facility and Chicago Property. The amended facility continues to include customary covenants, is guaranteed by material restricted subsidiaries (other than Brazilian subsidiaries), and is secured by substantially all assets other than real property.
Viskase Holdings, Inc. announced that its wholly owned subsidiary Viskase Companies, LLC entered into a Seventh Amendment to its Credit Agreement, extending the debt maturity date from August 13, 2026 to August 13, 2027.
The amendment increases the Applicable Rate by 1.0 percentage point on revolving loans, term loans and letters of credit, adjusts the definition of Consolidated EBITDA for certain restructuring and transaction costs, and permits asset dispositions at the Osceola Facility and Chicago Property. The amended facility continues to include customary covenants, is guaranteed by material restricted subsidiaries (other than Brazilian subsidiaries), and is secured by substantially all assets other than real property.
Viskase Holdings, Inc. has promoted long-time finance executive Michael Blecic to Chief Financial Officer, effective April 10, 2026. Blecic, age 57, has worked at the company’s subsidiary since 1995 and has served as Vice President, Chief Accounting Officer and Treasurer since February 2013, roles he will retain.
The interim Chief Financial Officer engagement with Mackenzie Stender through Silverman Consulting, Inc. ended as of the same date. Viskase also appointed Joseph D. King as Executive Vice President while he continues as Senior Vice President, General Counsel and Secretary. Neither Blecic nor King will receive additional compensation beyond normal annual merit increases for these new titles.
Viskase Holdings, Inc. has promoted long-time finance executive Michael Blecic to Chief Financial Officer, effective April 10, 2026. Blecic, age 57, has worked at the company’s subsidiary since 1995 and has served as Vice President, Chief Accounting Officer and Treasurer since February 2013, roles he will retain.
The interim Chief Financial Officer engagement with Mackenzie Stender through Silverman Consulting, Inc. ended as of the same date. Viskase also appointed Joseph D. King as Executive Vice President while he continues as Senior Vice President, General Counsel and Secretary. Neither Blecic nor King will receive additional compensation beyond normal annual merit increases for these new titles.