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Assertio Holdings (ASRT) deregisters S-4s after $23.50 cash tender and merger

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
POS AM

Rhea-AI Filing Summary

Assertio Holdings, Inc. files post-effective amendments to deregister securities under two Form S-4 registration statements after completing a merger. The S-4s previously registered up to 45,449,280 shares and 43,860,220 shares, respectively, related to prior merger transactions. Pursuant to an Agreement and Plan of Merger entered on May 13, 2026, Purchaser commenced a tender offer on May 18, 2026 at $23.50 per share. The Offer expired on June 15, 2026, Purchaser accepted tendered shares on June 16, 2026, and the Purchaser merged with and into Assertio on June 16, 2026, making Assertio a wholly-owned subsidiary. The registrant states it has terminated the registered offerings and is removing from registration any unsold securities by these post-effective amendments.

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Insights

Post-closing deregistration follows a completed cash tender offer and merger.

The filings confirm that an Agreement and Plan of Merger dated May 13, 2026 led to a tender offer commencing May 18, 2026

and a closing action on June 16, 2026. The post-effective amendments amend Form S-4 registration statements to remove unsold securities, consistent with the registrant's prior undertakings.

Cash-flow treatment for the purchase is stated as $23.50 per share paid in cash; detailed payment mechanics and any withholding are referenced in the merger agreement exhibit.

Administrative deregistration eliminates outstanding shelf registration overhang.

The S-4s had registered up to 45,449,280 and 43,860,220 shares tied to earlier transactions; the registrant terminated offerings after the merger closing.

These post-effective amendments are routine following a change of control; subsequent filings may disclose any residual mechanics, but cash consideration per share is explicit at $23.50.

Registered shares (S-4 No. 333-272355) 45,449,280 shares registered in connection with Spectrum Pharmaceuticals merger
Registered shares (S-4 No. 333-237599) 43,860,220 shares registered in connection with Assertio Therapeutics and Zyla Life Sciences mergers
Tender offer price $23.50 price per Share paid in the Offer commencing <date>May 18, 2026</date>
Merger agreement date May 13, 2026 Agreement and Plan of Merger entered
Offer commencement date May 18, 2026 Purchaser commenced tender offer
Offer expiration and acceptance June 15-16, 2026 Offer expired 11:59 p.m. ET on June 15; Purchaser accepted tendered shares on June 16, 2026
Post-Effective Amendment regulatory
"These Post-Effective Amendments relate to the following Registration Statements"
A post-effective amendment is an official update to a securities registration document filed after that document has become effective with regulators; it corrects, adds or replaces information about the securities, the company, or an offering. Investors care because it keeps the legal record current and can change what is being sold or the rights attached to shares — like getting a revised product manual after a launch that may affect value or use.
Form S-4 regulatory
"Registration Statement on Form S-4 (No. 333-272355)"
A Form S-4 is a legal document that companies file with the government to announce and explain a major business move, such as a merger or acquisition. It provides detailed information to help investors understand how the deal might affect the company's value and future prospects, similar to a detailed blueprint that clarifies the impact of a significant change.
Section 251(h) legal
"in accordance with Section 251(h) of the General Corporation Law of the State of Delaware"
Section 251(h) is a provision in Delaware corporate law that lets a company complete a merger without holding a separate shareholder vote if a prior, qualifying tender offer already secured the required number of shares on the same terms. For investors, it matters because it shortens the timetable and reduces the risk that a merger will be blocked by a follow-up vote—think of it as a shortcut that finalizes a deal once enough stockholders have already agreed.
tender offer financial
"Purchaser commenced a tender offer (the “Offer”) to purchase all of the issued and outstanding shares"
A tender offer is a proposal made by a person or company to buy shares from existing shareholders at a set price, usually higher than the current market value, within a specific time frame. It matters to investors because it can lead to a change in ownership or control of a company, and shareholders must decide whether to sell their shares at the offered price.
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As filed with the Securities and Exchange Commission on June 16, 2026

Registration No. 333-272355

Registration No. 333-237599

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

Post-Effective Amendment No. 1 to Form S-4 Registration Statement No. 333-272355

Post-Effective Amendment No. 1 to Form S-4 Registration Statement No. 333-237599

 

FORM S-4

REGISTRATION STATEMENT
UNDER

THE SECURITIES ACT OF 1933

 

 

ASSERTIO HOLDINGS, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

 

Delaware   85-0598378

(State or Other Jurisdiction of

Incorporation or Organization)

 

(IRS Employer

Identification No.)

 

100 South Saunders Road, Suite 300
Lake Forest, Illinois 60045

(Address of Principal Executive Offices, including Zip Code)

 

Crystal Fisher

Zydus Pharmaceuticals (USA) Inc., 73 Route 31 N., Pennington, New Jersey 08534
Tel. (609) 730-1900

(Name, Address and Telephone Number, including Area Code, of Agent for Service)

 

Copies to:

 

Ryan A. Murr

Branden C. Berns

Evan D’Amico

Gibson, Dunn & Crutcher LLP

One Embarcadero Center, Suite 2600

San Francisco, California 94111-3715

(415) 393-8373

 

Krishna Veeraraghavan

Chelsea Darnell

Paul, Weiss, Rifkind, Wharton & Garrison LLP

1285 Avenue of the Americas

New York, New York 10019

(212) 373-3000

 

Approximate date of commencement of proposed sale to the public: Not applicable.

 

If the securities being registered on this Form are being offered in connection with the formation of a holding company and there is compliance with General Instruction G, check the following box. ¨

 

If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ¨

 

If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ¨

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer   ¨   Accelerated filer   x
       
Non-accelerated filer   ¨   Smaller reporting company   x
             
Emerging growth company   ¨        

 

 

 

 

 

DEREGISTRATION OF SECURITIES

 

These Post-Effective Amendments (these “Post-Effective Amendments”) relate to the following Registration Statements on Form S-4 (each, a “Registration Statement”, and collectively, the “Registration Statements”) of Assertio Holdings, Inc., a Delaware corporation (the “Registrant”), filed with the U.S. Securities and Exchange Commission (the “SEC”): (i) Registration Statement on Form S-4 (No. 333-272355), filed with the SEC on June 2, 2023, as amended, and declared effective on June 15, 2023, pertaining to the registration of up to 45,449,280 shares of the Registrant’s common stock issuable to stockholders of Spectrum Pharmaceuticals, Inc. in connection with the merger contemplated thereby; and (ii) Registration Statement on Form S-4 (No. 333-237599), filed with the SEC on April 8, 2020, as amended, and declared effective on April 20, 2020, pertaining to the registration of up to 43,860,220 shares of the Registrant’s common stock issuable in connection with the merger transactions involving Assertio Therapeutics, Inc. and Zyla Life Sciences.

 

On May 13, 2026, the Registrant entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Zydus Worldwide DMCC, a limited liability company incorporated under the laws of the United Arab Emirates (“Parent”), Zara Merger Sub Inc., a Delaware corporation and a wholly-owned subsidiary of Parent (“Purchaser”), and, solely for purposes of Section 9.20 thereof, Zydus Pharmaceuticals (USA) Inc., a New Jersey corporation. Pursuant to the Merger Agreement, on May 18, 2026, Purchaser commenced a tender offer (the “Offer”) to purchase all of the issued and outstanding shares of common stock, par value $0.0001 per share, of the Registrant (the “Shares”) at a price of $23.50 per Share, payable in cash, without interest and subject to any applicable withholding of taxes. The Offer expired one minute after 11:59 p.m., Eastern Time, on June 15, 2026, and on June 16, 2026, Purchaser irrevocably accepted for payment all Shares validly tendered and not validly withdrawn pursuant to the Offer. On June 16, 2026, pursuant to the Merger Agreement and in accordance with Section 251(h) of the General Corporation Law of the State of Delaware, Purchaser merged with and into the Registrant (the “Merger”), with the Registrant continuing as the surviving corporation and a wholly-owned subsidiary of Parent.

 

The foregoing description of the Offer, the Merger, the Merger Agreement and the transactions contemplated thereby does not purport to be complete and is subject to, and qualified in its entirety by, the Merger Agreement, which is attached as Exhibit 2.1 to the Registrant’s Current Report on Form 8-K filed with the SEC on May 13, 2026.

 

As a result of the Merger, the Registrant has terminated any and all offerings and sales of its securities pursuant to the Registration Statements. In accordance with an undertaking made by the Registrant in each of the Registration Statements to remove from registration, by means of a post-effective amendment, any of the securities registered under the Registration Statements that remain unsold at the termination of the offerings, the Registrant hereby terminates the effectiveness of each Registration Statement and removes from registration all of the securities that remain unsold under the Registration Statements as of the date hereof, if any.

 

The Registrant is filing these Post-Effective Amendments to withdraw and remove from registration all securities registered pursuant to the Registration Statements that remain unsold as of the date hereof. Each Registration Statement is hereby amended, as appropriate, to reflect the deregistration of such securities.

 

 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Act, the registrant has duly caused these Post-Effective Amendments to the registration statements to be signed on its behalf by the undersigned, thereunto duly authorized, in Pennington, New Jersey, on June 16, 2026.

 

  ASSERTIO HOLDINGS, INC.
   
  By: /s/ Ravi Yadavar
  Name: Ravi Yadavar
  Title: Treasurer

 

No other person is required to sign these Post-Effective Amendments in reliance upon Rule 478 under the Securities Act of 1933, as amended.

 

 

 

FAQ

What did Assertio Holdings (ASRT) deregister with these post-effective amendments?

They deregistered securities previously covered by two Form S-4s that registered up to 45,449,280 and 43,860,220 shares. The amendments remove any unsold shares after the merger closing on June 16, 2026.

What price did the purchaser pay per share in the tender offer for ASRT?

The purchaser paid $23.50 per share in cash. The tender offer began on May 18, 2026, expired on June 15, 2026, and was accepted on June 16, 2026.

When did the merger closing occur for Assertio Holdings (ASRT)?

The merger closed on June 16, 2026 when Purchaser accepted tendered shares and merged with the registrant. The Agreement and Plan of Merger was entered on May 13, 2026.

Do the post-effective amendments change how proceeds are used?

No use-of-proceeds changes are disclosed; the amendments withdraw registration of unsold securities. Cash-flow detail indicates the offer paid $23.50 per share, payable in cash, with applicable tax withholding.

Were the registered S-4 offerings still active after the merger?

No. The registrant terminated any and all offerings under the Registration Statements as a result of the merger and is removing remaining unsold securities by these post-effective amendments.