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

Debt and Interest (Tables)

12 Months Ended

Dec. 31, 2025


		December 31,		December 31,			Interest rate at
($ in thousands)		2025		2024			December 31, 2025		Maturity
2024 Oaktree Note		$	29,789	$	35,350		11.6	%	June 2028
SWK Term Loan			25,000		25,000		14.1	%	June 2028
Less: Discount on notes payable			(2,372)		(2,388)
Total notes payable, long term, net		$	52,417	$	57,962


	Year Ended December 31,
	2025						2024
($ in thousands)	Interest		Fees		Total		Interest		Fees		Total
2024 Oaktree Note	$	4,156	$	931	$	5,087	$	1,954		323		2,277
2020 Oaktree Note¹		—		—		—		6,803		1,219		8,022
Partner company convertible preferred shares		—		—		—		(290)		90		(200)
Partner company notes payable		3,232		466		3,698		2,385		307		2,692
Partner company contingent call option accretion²		1,283		—		1,283		716		—		716
Other		38		—		38		20		—		20
Total Interest Expense and Financing Fee	$	8,709	$	1,397	$	10,106	$	11,588	$	1,939	$	13,527

Note 1:

Includes loss on extinguishment of debt of $3.6 million related to the payoff of the 2020 Oaktree Note on July 25, 2024.

Note 2:Relates to Urica’s optional repurchase obligation to Crystalys (see Note 3).