Assertio to Acquire Spectrum Pharma for $1.04B
Ticker: ASRT · Form: 8-K · Filed: 2024-03-27T00:00:00.000Z
Sentiment: bullish
Topics: acquisition, oncology, merger
Related Tickers: SPPI
TL;DR
Assertio buys Spectrum Pharma for $1.04B cash to boost oncology biz.
AI Summary
Assertio Holdings, Inc. announced on March 26, 2024, that it has entered into a definitive agreement to acquire all of the outstanding shares of Spectrum Pharmaceuticals, Inc. for $1.04 billion in cash. The transaction is expected to close in the second half of 2024, subject to customary closing conditions and regulatory approvals.
Why It Matters
This acquisition significantly expands Assertio's oncology portfolio and commercial capabilities, positioning it for substantial growth in a key therapeutic area.
Risk Assessment
Risk Level: medium — The acquisition is subject to regulatory approvals and closing conditions, which introduces uncertainty regarding the completion and timing of the transaction.
Key Numbers
- $1.04B — Acquisition Price (Assertio Holdings, Inc. is acquiring Spectrum Pharmaceuticals, Inc. for this amount in cash.)
Key Players & Entities
- Assertio Holdings, Inc. (company) — Acquiring company
- Spectrum Pharmaceuticals, Inc. (company) — Target company
- $1.04 billion (dollar_amount) — Acquisition price
- March 26, 2024 (date) — Date of definitive agreement
- second half of 2024 (date) — Expected closing period
FAQ
What is the primary strategic rationale behind Assertio's acquisition of Spectrum Pharmaceuticals?
The acquisition is expected to significantly expand Assertio's oncology portfolio and commercial capabilities.
What is the total value of the transaction?
The definitive agreement is for the acquisition of all outstanding shares of Spectrum Pharmaceuticals for $1.04 billion in cash.
When is the transaction expected to be completed?
The transaction is expected to close in the second half of 2024.
Are there any specific conditions that need to be met for the acquisition to close?
Yes, the transaction is subject to customary closing conditions and regulatory approvals.
What is the ticker symbol for Assertio Holdings, Inc.?
The filing does not explicitly state the ticker symbol for Assertio Holdings, Inc., but it is registered with the SEC under file number 001-39294.
Filing Stats: 419 words · 2 min read · ~1 pages · Grade level 12 · Accepted 2024-03-27 07:40:40
Key Financial Figures
- $0.0001 — ge on which registered: Common Stock, $0.0001 par value ASRT The Nasdaq Stock Mar
Filing Documents
- tm249893d1_8k.htm (8-K) — 23KB
- 0001104659-24-039390.txt ( ) — 191KB
- asrt-20240326.xsd (EX-101.SCH) — 3KB
- asrt-20240326_lab.xml (EX-101.LAB) — 33KB
- asrt-20240326_pre.xml (EX-101.PRE) — 22KB
- tm249893d1_8k_htm.xml (XML) — 4KB
01 Other Events
Item 8.01 Other Events On March 26, 2024, Assertio Holdings, Inc. (the "Company") received a letter from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") notifying the Company that the Company has regained compliance with Nasdaq's minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2) for continued listing on the Nasdaq Capital Market, and the matter is now closed.
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. ASSERTIO HOLDINGS, INC. Date: March 27, 2024 By: /s/ Sam Schlessinger Sam Schlessinger Senior Vice President, General Counsel