Amneal 13D/A: 7.6% Stake by Dipan Patel; 3.05M Shares Pledged

Rhea-AI Filing Summary

Amneal Pharmaceuticals, Inc. Schedule 13D/A shows that Dipan Patel beneficially owns 23,828,992 shares of Class A common stock, representing 7.6% of the 314,079,309 shares outstanding used for the calculation. The filing states these shares are held of record by trusts controlled by the reporting person and that Patel has sole voting and dispositive power over the shares.

The amendment adds loan documentation: a trust controlled by Patel pledged 3,050,000 Class A shares as collateral under a promissory note and related agreements with Enterprise Bank & Trust. The loan matures on 11/05/2026, and customary foreclosure rights exist for the bank if events of default occur.

Positive

• Dipan Patel clearly discloses beneficial ownership of 23,828,992 shares (representing 7.6%)
• Ownership is held in trusts controlled by the reporting person, providing transparent voting and dispositive power

Negative

• A trust controlled by the reporting person pledged 3,050,000 shares as collateral under a loan that matures on 11/05/2026
• The Bank holds customary foreclosure and disposition rights that could increase share supply if a default occurs

Insights

Equity Investor Relations Analyst

Major shareholder disclosure: 7.6% stake and pledged collateral noted.

The filing confirms Dipan Patel as a significant holder with 23,828,992 Class A shares and sole voting and dispositive power, which establishes clear ownership and control for market observers. The disclosure uses 314,079,309 shares outstanding as the base for the 7.6% calculation.

Investors should note the pledge of 3,050,000 shares as collateral; this creates potential supply if foreclosure occurs before the loan maturity on 11/05/2026. Near-term trading impact is conditional on credit events tied to the promissory note.

Credit / Corporate Finance Analyst

Loan amendment introduces creditor rights over 3.05M shares through 2026.

A Second Modification Agreement with Enterprise Bank & Trust secures obligations with 3,050,000 pledged shares and references customary foreclosure and disposition rights under the Security and Control Agreements. The obligations mature on 11/05/2026.

This raises a tangible counterparty risk: if the borrower defaults, the bank may liquidate collateral, potentially pressuring share supply. Monitor covenant adherence and any subsequent filings that quantify outstanding loan amounts or default events within the next 12 months.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

Amneal Pharmaceuticals, Inc.

(Name of Issuer)

Class A Common Stock, par value $0.01

(Title of Class of Securities)

03168L105

(CUSIP Number)

Christine Krentz
4 Gatehall Drive,
Parsippany, NJ, 07054
(908) 409-6700

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

10/03/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 03168L105

1

Name of reporting person

Patel Dipan

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 23,828,992.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 23,828,992.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

23,828,992.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.6 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

The percentage of ownership of the Class A Common Stock by the Reporting Person presented in this Statement is based on 314,079,309 shares of Class A Common Stock outstanding, as disclosed in the New Issuer's Quarterly Report on Form 10-Q, filed on August 7, 2025.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Class A Common Stock, par value $0.01
(b)	Name of Issuer: Amneal Pharmaceuticals, Inc.
(c)	Address of Issuer's Principal Executive Offices: 400 Crossing Blvd, Bridgewater, NEW JERSEY , 08807.
Item 4.	Purpose of Transaction
	This Amendment No. 4 to Schedule 13D (this "Amendment No. 4") amends and supplements the Schedule 13D filed with the SEC on July 9, 2018 (the "Initial 13D" and, as amended and supplemented through the date of this Amendment No. 4, the "Schedule 13D"), by the Reporting Person relating to Class A Common Stock of the New Issuer. Capitalized terms used but not defined in this Amendment No. 4 shall have the meanings set forth in the Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(b)	The following sets forth, as of the date of this Schedule 13D, the aggregate number of shares of Class A Common Stock and percentage of Class A Common Stock beneficially owned by the Reporting Person, as well as the number of shares of Class A Common Stock as to which the Reporting Person has the sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition of, as of the date hereof, based on 314,079,309 shares of Class A Common Stock outstanding, as disclosed in the Issuer's Quarterly Report on Form 10-Q, filed on August 7, 2025: Reporting Person - Dipan Patel Amount Beneficially Owned - 23,828,992 Percent of Class - 7.6 Sole power to vote or to direct the vote - 23,828,992 Shared power to vote or to direct the vote - 0 Sole power to dispose or to direct the disposition - 23,828,992 Shared power to dispose or to direct the disposition - 0 The Reporting Person may be deemed to beneficially own 23,828,992 shares of Class A Common Stock held of record by trusts controlled by the Reporting Person.
(c)	The information set forth in Item 6 of this Amendment No. 4 is incorporated by reference herein.
(d)	The information set forth in Item 6 of this Amendment No. 4 is incorporated by reference herein.
(e)	Not applicable.
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Item 6 of the Schedule 13D is hereby amended and supplemented by adding the following information. On September 26, 2025, a trust controlled by the Reporting Person (the "Borrower"), entered into a Second Modification Agreement (the "Second Modification Agreement") with Enterprise Bank & Trust (the "Bank") with respect to (i) that certain Promissory Note, dated as of June 20, 2024, by and between the Borrower and the Bank (the "Promissory Note"), (ii) that certain Security Agreement, dated as of June 20, 2024, by and between the Borrower and the Bank (the "Security Agreement"), (iii) that certain Control Agreement, dated as of June 20, 2024, by and between the Borrower and the Bank (the "Control Agreement"), and (iv) that certain First Modification Agreement, dated as of June 15, 2025, by and between the Borrower and the Bank (the "First Modification Agreement" and, collectively with the Second Modification Agreement, the Promissory Note, the Security Agreement and the Control Agreement, the "Loan Documents"). Pursuant to the Loan Documents, the Borrower agreed to pledge to the Bank 3,050,000 shares of Class A Common Stock (the "Collateral") to secure the obligations of the Borrower under the Promissory Note and the other Loan Documents. The obligations of the Borrower under the Loan Documents mature on November 5, 2026. Upon the occurrence of certain events that are customary with this type of transaction, pursuant to the Security Agreement and the Control Agreement, the Bank may exercise its rights to foreclose on, and dispose of, the Collateral in accordance with the Loan Documents. Copies of the Security Agreement and the Control Agreement are attached as Exhibits to this Schedule 13D, and are incorporated herein by reference. Except as set forth herein, the Reporting Person does not have any contracts, arrangements, understandings or relationships (legal or otherwise) with any person with respect to any securities of the New Issuer, including but not limited to any contracts, arrangements, understandings or relationships concerning the transfer or voting of such securities, finder's fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or losses, or the giving or withholding of proxies
Item 7.	Material to be Filed as Exhibits.
	5. Security Agreement, dated as of June 20, 2024, by and between the Borrower and the Bank. 6. Control Agreement, dated as of June 20, 2024, by and between the Borrower and the Bank.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Patel Dipan

Signature:	Dipan Patel
Name/Title:	Patel Dipan
Date:	10/06/2025

FAQ

How many AMRX shares does Dipan Patel report owning?

The filing reports 23,828,992 shares of Class A common stock, representing 7.6% of the class based on 314,079,309 shares outstanding.

Are Patel's shares subject to any liens or pledges?

Yes. A trust controlled by Patel pledged 3,050,000 Class A shares as collateral under a promissory note and related agreements with Enterprise Bank & Trust.

When does the loan securing the pledged AMRX shares mature?

The obligations under the loan documents mature on 11/05/2026.

Who may dispose of the pledged shares if there is a default?

Under the Security Agreement and Control Agreement, Enterprise Bank & Trust may exercise customary foreclosure and disposition rights to dispose of the pledged collateral.

Does Patel retain voting control over the reported shares?

Yes. The filing states Patel has sole voting power and sole dispositive power over the reported 23,828,992 shares.