ANI Pharma to Acquire Amneal's US Rx Business for $230M

TL;DR

ANI Pharma buying Amneal's US Rx biz for $230M - big move!

AI Summary

ANI Pharmaceuticals, Inc. announced on May 21, 2024, that it has entered into a definitive agreement to acquire the U.S. prescription business ofptives of Amneal Pharmaceuticals LLC for $230 million. This acquisition is expected to significantly expand ANI's product portfolio and market presence in the U.S. pharmaceutical sector.

Why It Matters

This acquisition could significantly bolster ANI Pharmaceuticals' market share and product offerings, potentially leading to increased revenue and profitability.

Risk Assessment

Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and market reception.

Key Numbers

• $230 million — Acquisition Price (ANI Pharmaceuticals is acquiring the U.S. prescription business of Amneal Pharmaceuticals LLC for this amount.)

Key Players & Entities

• ANI Pharmaceuticals, Inc. (company) — Registrant
• Amneal Pharmaceuticals LLC (company) — Seller of U.S. prescription business
• $230 million (dollar_amount) — Acquisition price
• May 21, 2024 (date) — Date of the agreement

FAQ

Filing Documents

• ani-20240521.htm (8-K) — 61KB
• exhibit102formofrestricted.htm (EX-10.2) — 42KB
• exhibit103formofrestricted.htm (EX-10.3) — 44KB
• 0001023024-24-000063.txt ( ) — 287KB
• ani-20240521.xsd (EX-101.SCH) — 2KB
• ani-20240521_lab.xml (EX-101.LAB) — 21KB
• ani-20240521_pre.xml (EX-101.PRE) — 12KB
• ani-20240521_htm.xml (XML) — 3KB

07 Submission of Matters to a Vote of Security Holders

Item 5.07 Submission of Matters to a Vote of Security Holders At the Annual Meeting, the following matters were submitted to a vote of stockholders: 1. The election of eight (8) directors to serve until the Company's 2025 Annual Meeting of Stockholders and until their successors are duly elected and qualified, or until their successors shall have been duly elected and qualified; 2. The ratification of the appointment of EisnerAmper LLP as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024; 3. The approval of the compensation of the Company's named executive officers, on an advisory basis; and 4. The approval of the Amended 2022 Stock Plan. At the close of business on March 27, 2024, the record date for the determination of stockholders entitled to vote at the Annual Meeting, there were 25,000 shares of the Company's Series A Preferred Stock outstanding and entitled to vote at the Annual Meeting, 20,980,307 shares of the Company's Common Stock outstanding and entitled to vote at the Annual Meeting, and 10,864 shares of the Company's Class C Special Stock outstanding and entitled to vote at the Annual Meeting. The 25,000 shares of Series A Preferred Stock outstanding as of March 27, 2024 were entitled to cast an aggregate of 610,413 votes and each share of Common Stock and Class C Special Stock was entitled to one vote. Accordingly, there were an aggregate of 21,601,584 votes entitled to be cast at the Annual Meeting, of which an aggregate of 18,106,356 were present virtually or represented by proxy, constituting a quorum. At the Annual Meeting, (i) the eight directors were elected, (ii) the appointment of the Company's independent registered public accounting firm for the fiscal year ending December 31, 2024 was ratified, (iii) the compensation of the Company's named executive officers, on an advisory basis, was approved, (iv) and the Amended 2022 Stock Plan was approved. Proposal No. 1 — Election of th

01 Exhibits

Item 9.01 Exhibits (d) Exhibits Exhibit No. Description 10.1 Amended and Restated 2022 Stock Incentive Plan (incorporated by reference to Appendix A to the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 5, 2024) 10.2 Amended 2022 Stock Plan, Form of Restricted Stock Grant Agreement (Directors) 10.3 Amended 2022 Stock Plan, Form of Restricted Stock Grant Agreement (Employees) 104 Cover Page Interactive Data File (embedded with the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: May 23, 2024 ANI PHARMACEUTICALS, INC. By: /s/ Stephen P. Carey Name: Stephen P. Carey Title: Senior Vice President Finance and Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR