Annual report [Section 13 and 15(d), not S-K Item 405]

Related Party Transactions (Tables)

v3.26.1
Related Party Transactions (Tables)
12 Months Ended
Dec. 31, 2025
Related Party Transactions  
Schedule of PIK dividend or equity fee recorded

The following table summarizes, by subsidiary, the PIK dividends, annual equity fees, and equity fees recorded by the Company in accordance with the terms of the Founders Agreements, Exchange Agreements and the partner companies’/subsidiaries’ certificates of incorporation for the years ended December 31, 2025 and 2024 ($ in thousands):

PIK Dividend

Year Ended December 31, 

Partner company

  ​ ​ ​

Date

  ​ ​ ​

2025

  ​ ​ ​

2024

Avenue

January 1

130

410

Cellvation

 

October 31

 

7

 

10

Checkpoint1

 

January 1

 

53

 

8,633

Cyprium

 

January 1

 

299

 

291

Helocyte

 

January 1

 

40

 

39

Mustang

 

January 1

 

667

 

940

Oncogenuity

 

May 8

 

9

 

9

Urica

November 25

87

514

Fortress

 

(1,292)

 

(10,846)

Total

$

$

Note 1:

Instead of a PIK dividend, Checkpoint paid the Company an annual equity fee in shares of Checkpoint’s common stock equal to 2.5% of Checkpoint’s fully diluted outstanding capitalization. Due to the deconsolidation of Checkpoint in May 2025 related to the Sun Pharma transaction (see Note 3), Checkpoint no longer has this obligation to the Company.

Schedule of effective date and annual consulting fee payable by the subsidiary to the Company

The following table summarizes, by partner company/subsidiary, the effective date of the MSA and the annual consulting fee payable by the partner company/subsidiary to Fortress in quarterly installments ($ in thousands):

Partner Company/Subsidiary

  ​ ​ ​

Effective Date

  ​ ​ ​

2025

2024

  ​ ​ ​

Avenue1

February 17, 2015

$

500

 

250

Cellvation

October 31, 2016

 

500

 

500

Checkpoint2

March 17, 2015

 

208

 

500

Cyprium

March 13, 2017

 

500

 

500

Helocyte

March 20, 2015

500

500

Mustang

March 13, 2015

 

500

 

500

Oncogenuity

February 10, 2017

500

500

Urica

November 7, 2017

500

500

Fortress

 

(3,708)

 

(3,750)

Consolidated (Income)/Expense

$

$

Note 1:

Avenue’s MSA fee for 2024 was subject to a Subscription and Forgiveness Agreement signed in November 2024.

Note 2:

Due to the deconsolidation of Checkpoint in May 2025 related to the Sun Pharma transaction (see Note 3), Checkpoint no longer has this obligation to the Company.