Icahn Entities Amend Enzon Pharmaceuticals Stake Filing

TL;DR

Icahn group updated their Enzon Pharma filing. Keep an eye on this.

AI Summary

On August 19, 2024, Carl C. Icahn, through various entities including Icahn Capital LP and Icahn Enterprises L.P., filed an amendment to their Schedule 13D. This filing relates to their beneficial ownership of Enzon Pharmaceuticals, Inc. The specific details of the amendment, such as changes in share count or dollar amounts, are not provided in this excerpt.

Why It Matters

This filing indicates ongoing activity and potential strategic interest from Carl Icahn's group in Enzon Pharmaceuticals, which could influence the company's stock performance and future direction.

Risk Assessment

Risk Level: medium — Filings by activist investors like Carl Icahn can signal potential corporate actions or shifts in control, introducing volatility.

Key Players & Entities

• Carl C. Icahn (person) — Filer and beneficial owner
• Icahn Capital LP (company) — Filing entity
• Icahn Enterprises L.P. (company) — Filing entity
• Enzon Pharmaceuticals, Inc. (company) — Subject company

FAQ

Key Financial Figures

• $1.5 million — requiring it to pay a civil penalty of $1.5 million and to cease and desist from violations
• $500,000 — requiring him to pay a civil penalty of $500,000 and to cease and desist from committing

Filing Documents

• tm2421713d3_sc13da.htm (SC 13D/A) — 20KB
• 0001104659-24-090923.txt ( ) — 22KB

Security and Issuer

Item 1. Security and Issuer This statement constitutes Amendment No. 14 to the Schedule 13D relating to the shares of Common Stock, no par value (the “ Shares ”), issued by Enzon Pharmaceuticals, Inc., a Delaware corporation (the “ Issuer ”), and amends the Schedule 13D relating to the Shares filed on March 14, 2008 (as previously amended, the “ Original 13D ”), on behalf of the Reporting Persons (as defined in the Original 13D). Capitalized terms used herein and not otherwise defined have the respective meanings ascribed thereto in the Original 13D.

Identity and Background

Item 2. Identity and Background

of the Original 13D is hereby amended and

Item 2 of the Original 13D is hereby amended and supplemented as follows: On August 19, 2024, Icahn Enterprises L.P. (“ IEP ”) and Carl C. Icahn entered into settlement agreements with the U.S. Securities and Exchange Commission (the “ SEC ”), in connection with its inquiry previously disclosed by IEP. In connection with that settlement, the SEC entered an order in an administrative proceeding that contains non-scienter based findings that IEP failed to disclose in its Forms 10-K for the years 2018, 2019 and 2020 that Mr. Icahn pledged IEP securities as collateral to secure personal margin loans as required by Item 403(b) of Regulation S-K. The order relating to Mr. Icahn contains non-scienter based findings that, while Mr. Icahn’s prior Schedule 13D filings generally disclosed that he had pledged IEP depository units as collateral for personal margin loans, subsequent Schedule 13D filings were not amended to describe loan agreements and amendments to loan agreements or to attach guarantees as required by Items 6 and 7 of Schedule 13D. Without admitting or denying the SEC’s allegations (other than with respect to the SEC’s jurisdiction), under the terms of the settlements, (i) IEP consented to the entry of an order requiring it to pay a civil penalty of $1.5 million and to cease and desist from violations and any future violations of Section 13(a) of the Securities Exchange Act of 1934, as amended (the “ Exchange Act ”), and Rule 13a-1 thereunder, and (ii) Mr. Icahn consented to the entry of an order requiring him to pay a civil penalty of $500,000 and to cease and desist from committing or causing any violations of Section 13(d)(2) of the Exchange Act and Rule 13d-2(a) thereunder. SIGNATURE After reasonable inquiry and to the best of each of the undersigned knowledge and belief, each of the undersigned certifies that the information set forth in this Dated: August 19,

View Full Filing

View this SC 13D/A filing on SEC EDGAR