Solas Capital Management, LLC Reports New 7.2% Stake in Fennec Pharmaceuticals Inc. (FENC)

On May 15, 2026, Solas Capital Management, LLC and Frederick Tucker Golden filed a Schedule 13G/A with the SEC, reporting a 7.2% stake in Fennec Pharmaceuticals Inc. (FENC). The filing indicates that the reporting persons beneficially own 2,482,198 shares of common stock as of the event date on March 31, 2026. This position represents a significant increase from the previously reported 0.0% ownership, marking a new substantial holding for the firm. Solas Capital Management, LLC serves as an investment adviser to a private fund and sub-adviser to another, while Frederick Tucker Golden serves as the Portfolio Manager with shared voting and dispositive power over the shares. The ownership percentage is based on approximately 34.47 million shares outstanding. The filing was made under Rule 13d-1(b), certifying that the securities were acquired in the ordinary course of business and not for the purpose of influencing or changing control of the issuer. This amendment marks the third update to their reported position.