Fortress Biotech said it repaid the remaining $15 million principal on its Oaktree credit facility on September 30, 2026. The company also reported paying approximately $435,000 in accrued interest, a $150,000 prepayment fee and additional closing costs that it did not quantify. Fortress said the debt was paid in full, the related liens were released and the agreement terminated.
What Fortress paid to close the facility
| Item | Amount reported |
|---|---|
| Remaining principal | $15 million |
| Accrued interest | Approximately $435,000 |
| Prepayment fee | $150,000 |
| Other closing costs | Not stated; Fortress’s October 1, 2026 Form 8-K does not quantify them. Filing |
The disclosed figures do not establish the complete payoff total because other closing costs were not itemized. They are company-reported transaction amounts, not an independent calculation of the facility’s lifetime financing cost.
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What happened to the Oaktree agreement
Fortress said the indebtedness under this agreement was satisfied and paid in full. It also said the liens and other security interests securing the facility were released and terminated, and the agreement automatically terminated under its terms. Those statements concern the Oaktree facility specifically; they do not establish that Fortress Biotech or its subsidiaries have no other debt.
How the balance reached $15 million
Fortress entered into a $50 million senior secured credit agreement with Oaktree Fund Administration, LLC and lenders on July 25, 2024. It initially borrowed $35 million; borrowing up to another $15 million was subject to lender consent. March 2026 Form 10-Q
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In December 2025, the agreement was amended to extend its maturity to June 30, 2028 and adjust a minimum net sales covenant, according to the later quarterly filing. On February 22, 2026, another amendment changed covenant terms and required a $10 million mandatory prepayment, plus accrued interest and any applicable yield protection premium, in connection with a Cyprium monetization event and subject to the agreement’s conditions. February 2026 Form 8-K
By March 31, 2026, Fortress reported that aggregate prepayments, including the monetization-related payment, had reduced the Oaktree principal balance to $15 million. The September payment covered that remaining principal.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the repayment does—and does not—show
The transaction removes the debt and collateral obligations under the Oaktree agreement, as Fortress described them. It does not, by itself, establish that the company is debt-free, more solvent overall or performing better operationally. Fortress’s March 2026 quarterly filing also described a separate Journey Medical/SWK facility, and the materials cited here do not provide a company-wide debt total after the September payoff.
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