Enzon Pharmaceuticals, Inc. (OTCPK:ENZN) will look for acquisition opportunities. The Company announced the results of its rights offering following the expiration of the subscription period on October 9, 2020 at 5:00 p.m. New York City Time. Under the rights offering, 40,000 units were available for purchase and holders of Enzon’s common stock received one transferable subscription right for each share of common stock owned. For every 1,105 subscription rights held, stockholders were entitled to purchase one unit at the subscription price of $1,090 per unit. Randolph Read, Chairman of the Board, commented, “We are very pleased with the successful completion of our rights offering. The company now has over $48 million of cash available as we look for acquisition opportunities that will help us to utilize our net operating loss tax carryforwards and in the process maximize shareholder value”.