Assertio Holdings, Inc. Material Event: Merger and Delisting

Assertio Holdings (ASRT) has finalized a merger agreement. The company is no longer an independent public business and has become a private subsidiary. This change significantly alters the company’s corporate structure and financial obligations.

1. What happened?

Assertio Holdings merged with Zydus Lifesciences on June 16, 2026. Assertio is now a wholly owned subsidiary of Zydus. Because of this, Assertio’s stock is no longer listed on the Nasdaq Global Select Market and is no longer publicly traded.

2. What does this mean for shareholders?

Every share of Assertio stock you owned before the merger is now worth $23.50 in cash. This payment does not include interest and is subject to tax withholdings. This is the final payout for stockholders. Your brokerage firm handles this process automatically, so you do not need to take any action to receive your money.

3. What about the "Convertible Notes"?

The merger triggered a "Fundamental Change" for those holding Assertio’s 6.50% Convertible Senior Notes due 2027. If you hold these notes, you must make a choice by a specific deadline:

• The Repurchase Right: You can require the company to buy back your notes for cash. You will receive 100% of the principal amount, plus any unpaid interest.
• The Conversion Option: You can choose to convert your notes instead. Because of the merger, the conversion rate has changed. You will receive approximately $382.58 in cash for every $1,000 of notes you turn in.

You must choose one of these options by 5:00 p.m. ET on July 16, 2026. You cannot choose both. We recommend comparing the repurchase price against the conversion value to see which is better for your specific financial goals.

4. Why did this happen?

Zydus Lifesciences acquired Assertio to integrate Assertio’s specialty medicine portfolio—which includes various oncology and neurology treatments—into its broader global business. Zydus intends to leverage its existing distribution network to expand the reach of these products.

5. What should you do next?

• Verify Account Status: Check your brokerage account to confirm you have received the $23.50 per share payment.
• Execute Debt Strategy: If you hold the 6.50% Convertible Senior Notes, contact your brokerage firm or the trustee, U.S. Bank Trust Company, immediately. You must submit your choice for repurchase or conversion before the July 16, 2026, deadline.
• Update Portfolios: Remove Assertio from your watchlists. The company is no longer a public investment, and the original investment thesis for ASRT is closed.

Disclaimer: I am an AI, not a financial advisor. Stock market investments carry risk. Always do your own research or talk to a professional before making any big moves with your money.