1. Southpoint sold 1 million shares of FENC at $7.50 each. 2. The disposal represents about 2.93% of FENC's outstanding shares. 3. Southpoint retains control over 2.7 million shares (8% ownership). 4. Future ownership changes may occur based on market conditions. 5. The sale was performed for investment purposes.
FAQ
Why Neutral?
The sale of shares by a major investor may indicate a lack of confidence, yet the ownership percentage remains significant, which balances the impact. Historical precedent shows that large sales can lead to price pressure but also suggests that accumulation can occur on a subsequent decline.
How important is it?
The action by Southpoint, a well-known investment manager, raises questions about future ownership trends and market sentiment, potentially influencing FENC’s stock price in the near term.
Why Short Term?
The immediate effect of large transactions is typically seen in the short term, impacting investor sentiment quickly. Investors may react to the sale as a sign to reassess their positions in FENC.
NEW YORK, Dec. 26, 2025 (GLOBE NEWSWIRE) -- Southpoint Capital Advisors LP ("Southpoint"), acting on behalf of certain Southpoint funds for which it serves as investment manager, announces that on December 24, 2025, pursuant to securities laws, it disposed of beneficial ownership of 1,000,000 common shares (a "Common Share") of Fennec Pharmaceuticals Inc. ("Fennec"), representing approximately 2.93% of the outstanding Common Shares (calculated on a fully diluted basis).
The Common Shares were sold at a price of USD$7.50 per Common Share.
Southpoint now exercises control or direction over an aggregate of 2.7 million Common Shares, and representing approximately 8% of the outstanding Common Shares (calculated on a fully diluted basis).
Southpoint has disposed of the Common Shares for investment purposes. Depending on market and other conditions, Southpoint may change its beneficial ownership of, or control or direction over, Common Shares through market transactions, private agreements, treasury issuances, exercise of the Warrants or otherwise.
This press release has been issued in order to comply with applicable securities legislation.
For further information: Anthony J. Buffalano III Southpoint Capital Advisors LP 1114 Avenue of the Americas, 22nd Floor New York, NY 10036 Phone: (212) 692-6356