On March 19, 2026, Enzon Pharmaceuticals, Inc. announced an extension to the expiration date for its exchange offer concerning the Series C Non-Convertible Redeemable Preferred Stock. The new expiration date is set for March 24, 2026, at 5:00 p.m. Eastern Time. This extension allows holders of the Series C Preferred Stock to exchange their shares for common stock of Enzon, which is priced at $0.01 per share. The company has indicated that this extension may be further extended if necessary. The announcement was made via a press release, which is attached as Exhibit 99.1 to the Form 8-K filed with the SEC. This move is seen as a strategic effort to enhance liquidity and potentially improve the capital structure of the company. The exchange offer is part of Enzon's ongoing efforts to manage its financial obligations and optimize its equity structure. Investors and stakeholders are advised to review the details of the exchange offer and consider the implications of this extension on their investment decisions.

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