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1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsFortress Biotech said it repaid the remaining $15 million principal on its Oaktree credit facility on September 30, 2026. The payoff also included approximately $435,000 in accrued interest, a $150,000 prepayment fee and other closing costs, which the company did not quantify. 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
The company’s October 1, 2026 Form 8-K reports that the September 30 payoff covered the remaining $15 million of principal. That principal is separate from the additional amounts disclosed for closing:
- Approximately $435,000 in accrued interest.
- $150,000 as a prepayment fee.
- Other closing costs, for which the filing gives no amount.
Because those other costs are unquantified, the filing does not provide a complete total payoff figure. The disclosed amounts are Fortress’s reported transaction figures, not an independent estimate of the facility’s full lifetime borrowing cost. Fortress Biotech’s October 2026 Form 8-K
What the payoff changes—and what it does not establish
The Oaktree agreement was closed
Fortress said all indebtedness under the Oaktree agreement had been satisfied and paid in full. It also said the liens and other security interests securing that agreement were released and terminated, and that the agreement automatically terminated under its terms. These statements apply to the Oaktree facility; they are not a company-wide debt statement.
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It does not show Fortress is debt-free
Fortress’s March 2026 quarterly filing described a separate Journey Medical/SWK facility. That filing predates the Oaktree payoff, and the available disclosures do not establish Fortress’s total company-wide debt after September 30. The Oaktree transaction by itself also does not establish an improvement in the company’s solvency, cash position or operating performance. Fortress Biotech’s Form 10-Q for the quarter ended March 31, 2026
How the balance reached $15 million
The Oaktree facility began as a $50 million senior secured credit agreement. Fortress borrowed $35 million initially; drawing up to another $15 million required lender consent. The balance was reduced through prepayments before the final September payoff.
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| Date | Facility event |
|---|---|
| July 25, 2024 | Fortress entered the $50 million senior secured agreement with Oaktree Fund Administration, LLC and lenders, and initially borrowed $35 million. Additional borrowing of up to $15 million was subject to lender consent. February 2026 Form 8-K; March 2026 Form 10-Q |
| December 12, 2025 | An amendment extended the maturity date to June 30, 2028 and adjusted a minimum net sales covenant, according to the later quarterly filing. March 2026 Form 10-Q |
| February 22, 2026 | A second amendment changed covenant terms and required a $10 million mandatory prepayment, plus accrued interest and any applicable yield protection premium, in connection with the Cyprium monetization event, subject to the agreement’s conditions. February 2026 Form 8-K |
| March 31, 2026 | Fortress reported that aggregate prepayments had reduced the Oaktree principal balance to $15 million. March 2026 Form 10-Q |
| September 30, 2026 | Fortress paid the remaining $15 million principal, along with the reported interest, prepayment fee and other closing costs; the company said the agreement was paid in full and terminated, with the related liens released. October 2026 Form 8-K |
The February amendment explains one required $10 million prepayment tied to Cyprium monetization proceeds; the later quarterly filing confirms the $15 million balance after aggregate prepayments. The disclosures do not support treating the $10 million event as the only reduction in principal.
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