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Fortress Biotech said it repaid the remaining $15 million principal on its Oaktree credit facility on September 30, 2026. The company also reported paying about $435,000 in accrued interest, a $150,000 prepayment fee and unquantified closing costs. Fortress said the Oaktree debt was paid in full, the related liens were released and the agreement terminated.
What Fortress paid to close the Oaktree facility
| Item | Company-reported amount |
|---|---|
| Remaining principal | $15 million |
| Accrued interest | Approximately $435,000 |
| Prepayment fee | $150,000 |
| Other closing costs | Not quantified in the filing |
The amounts are Fortress Biotech’s disclosures in its October 1, 2026 Form 8-K, which reports the September 30 repayment. Because other closing costs were not specified, the filing does not give a complete total payoff figure. These reported amounts also do not represent an independently calculated lifetime cost of the loan. Form 8-K
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How the balance reached $15 million
Fortress entered 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 a further $15 million required lender consent. February 2026 Form 8-K March 2026 Form 10-Q
A December 2025 amendment extended the facility’s maturity to June 30, 2028 and adjusted a minimum net sales covenant, according to the subsequent quarterly filing. In February 2026, a second amendment required a $10 million mandatory prepayment, plus accrued interest and any applicable yield protection premium, in connection with the Cyprium monetization event and subject to the agreement’s conditions. By March 31, Fortress reported that aggregate prepayments had reduced the Oaktree principal balance to $15 million. The September payment cleared that remaining principal.
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What “paid in full” establishes—and what it does not
Fortress said the indebtedness under the Oaktree agreement was satisfied and paid in full, that liens and other security interests securing it were released and terminated, and that the agreement automatically terminated under its terms. Those statements apply to this Oaktree facility.
The payoff does not establish that Fortress Biotech or its subsidiaries have no other debt. Fortress’s March 2026 quarterly filing described a separate Journey Medical/SWK facility, and the available filings here do not provide a current company-wide debt total after the September Oaktree repayment. Nor does paying off one facility, by itself, demonstrate improved solvency or operating performance.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Transaction timeline
- July 25, 2024: Fortress entered the $50 million senior secured Oaktree agreement and initially borrowed $35 million.
- December 12, 2025: An amendment extended maturity to June 30, 2028 and adjusted a minimum net sales covenant, as later described in the quarterly filing.
- February 22, 2026: A second amendment established a conditional $10 million mandatory prepayment tied to Cyprium monetization proceeds, plus accrued interest and any applicable yield protection premium.
- March 31, 2026: Fortress reported $15 million of Oaktree principal outstanding after aggregate prepayments.
- September 30, 2026: Fortress repaid the remaining $15 million principal, along with the disclosed interest, prepayment fee and other closing costs.
The repayment announcement was made in a Form 8-K dated October 1, 2026. It is a company filing, not an attributed statement from a named executive.
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