Assertio Holdings, Inc. has completed its merger with Zydus Lifesciences Ltd., with stockholders receiving $23.50 per share in cash, according to a press release from the company.

Assertio (NASDAQ: ASRT) will continue to operate as a wholly-owned subsidiary of Zydus Lifesciences following the transaction, which was governed by a merger agreement dated May 13, 2026. Assertio common stock has been delisted from the Nasdaq Stock Exchange effective June 16, 2026.

As a result of the merger, Assertio has notified holders of its 6.50% Convertible Senior Notes due 2027 that a Fundamental Change, Make-Whole Fundamental Change, and Merger Event occurred on June 16, 2026.

Holders of the notes may require Assertio to repurchase their notes at 100% of the principal amount, plus accrued and unpaid interest, on July 17, 2026. To exercise this right, holders must submit their notes by 5:00 p.m. New York City time on July 16, 2026.

Alternatively, holders may convert their notes into cash until 5:00 p.m. New York City time on July 16, 2026. The conversion rate in effect prior to the merger was 16.2799 shares per $1,000 principal amount, reflecting a conversion price of approximately $61.46 per share. At the $23.50 merger consideration, holders who convert will receive approximately $382.58 in cash per $1,000 principal amount of notes. The company will pay converting holders on the second business day following the relevant conversion date.

U.S. Bank Trust Company, National Association serves as trustee, paying agent, and conversion agent for the notes.