Assertio Holdings Acquired by Zydus Lifesciences; Delisted from Nasdaq
ASRT has more than doubled off its 52-week low of $8.61.
Summary
Assertio Holdings has finalized its acquisition by Zydus Lifesciences for $23.50 per share in cash, leading to its delisting from Nasdaq and a change in control for convertible noteholders.
Key Events · M&A and Partnerships · ASRT
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Merger Completion and Delisting
Assertio Holdings, Inc. has been acquired by Zydus Worldwide DMCC for $23.50 per share in cash, and its common stock has been delisted from the Nasdaq Stock Exchange, effective June 16, 2026.
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Convertible Notes Impact
The merger constitutes a 'Fundamental Change' and 'Make-Whole Fundamental Change' for the 6.50% Convertible Senior Notes due 2027. Noteholders can demand repurchase at 100% principal plus accrued interest, or convert into cash at approximately $382.58 per $1,000 principal amount.
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Board and Officer Changes
The previous board of directors and officers have resigned, with new directors Ravi Yadavar and Punit Patel, from the acquirer, taking their places as Assertio becomes a wholly-owned subsidiary.
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Corporate Governance Amendments
The company's certificate of incorporation and bylaws have been amended and restated to reflect its new corporate structure under Zydus Lifesciences.
Analysis · ASRT · Life Sciences
Assertio Holdings, Inc. has completed its acquisition by Zydus Worldwide DMCC, a subsidiary of Zydus Lifesciences Ltd., for $23.50 per share in cash. This definitive event marks the end of Assertio's independent public trading, with its common stock now delisted from the Nasdaq Stock Exchange. The merger also triggers a 'Fundamental Change' and 'Make-Whole Fundamental Change' for holders of Assertio's 6.50% Convertible Senior Notes due 2027, granting them the right to require repurchase at par plus accrued interest, or convert into cash at approximately $382.58 per $1,000 principal amount. The company's board and officers have resigned, replaced by Zydus representatives, and the corporate charter and bylaws have been amended to reflect its new status as a wholly-owned subsidiary.
At the time of this filing, ASRT was trading at $23.50 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $151.9M. The 52-week trading range was $8.61 to $23.50. This filing was assessed with neutral market sentiment and an importance score of 10 out of 10.