Supernus Pulls Its Old Stock From Nasdaq As Indivior Merger Closes, New SUPN Shares Start Tuesday
Holders got 1.5401 Indivior shares per Supernus share, and former Indivior holders own about 56.5% of the combined company.
Supernus Pharmaceuticals, which develops and sells medicines for diseases of the central nervous system, told Nasdaq on Monday that its merger with Indivior had closed, and asked the exchange to suspend trading in its old common stock before the open. The combined company, Supernus, Inc., is set to begin trading as SUPN on the Nasdaq Global Market on Tuesday.
Old shares come off the exchange
Supernus also asked Nasdaq to file a Form 25, the notice that removes a stock from listing and deregisters it under Section 12(b). After that takes effect, the company intends to file a Form 15 to end its registration under Section 12(g) and suspend its SEC reporting obligations, the 8-K says.
The delisting follows from the merger rather than from any deficiency notice. The old Supernus common stock will no longer be listed on any national securities exchange.
Who owns the combined company
Supernus stockholders received 1.5401 Indivior common shares for each Supernus share, the companies said in a press release. On a fully diluted basis, former Indivior holders own about 56.5% of the combined company and former Supernus holders about 43.5%.
Indivior stockholders immediately before closing are to receive a one-time special cash dividend totaling $1.0 billion. It is funded by a $650 million Citibank term loan plus existing cash, the companies said.
An 11-product portfolio
The combined company's marketed portfolio spans 11 products across opioid use disorder, psychiatry and neurology, the companies said.
Supernus's own lineup, per its 10-K for 2025, treats ADHD (Qelbree), Parkinson's disease (Gocovri, Apokyn, Onapgo and Xadago), epilepsy and migraine (Trokendi XR and Oxtellar XR), postpartum depression (Zurzuvae), and cervical dystonia and chronic drooling (Myobloc). Zurzuvae is commercialized jointly with Biogen, and the two split operating profits and losses equally. Supernus completed its acquisition of Sage Therapeutics on July 31, 2025.
Trading in the combined company under SUPN begins on the Nasdaq Global Market on Tuesday.
Sources
- 8-K Filing — SUPERNUS PHARMACEUTICALS, INC. (SUPN) — SEC EDGAR
- Supernus and Indivior Complete Merger Creating a Diversified CNS Biopharmaceutical Leader — Yahoo Finance
- Supernus and Indivior Complete Merger Creating a — globenewswire.com
