Indivior Pharmaceuticals entered a $650M credit agreement
Item 1.01 Enters material agreement, Item 2.01 Completes acquisition or sale, Item 2.03 Takes on debt
- Form
- 8-K
- Filed
- Importance
- Major
- Accession
- 0001104659-26-121013
- $650,000,000 senior secured term loan facility
- Interest rate based on Term SOFR plus 2.25% initially
- Obligations guaranteed by subsidiaries in the US, England, Wales, Scotland, and Northern Ireland
- Includes financial covenants for total net leverage ratio and interest coverage
Written from the 8-K on EDGAR. Check the filing before you rely on it.
The reading, claim by claim
- The proceeds are to be used for the merger, refinancing existing debt, and general corporate purposes.
- The filing also reported the completion of an acquisition, detailing the merger with Supernus.
- Each share of Supernus was converted into 1.5401 shares of Indivior, resulting in legacy Indivior stockholders owning 56.5% and former Supernus stockholders owning 43.5% of the combined company on a fully diluted basis.
3 of 3 claims matched the filing text.
From the filing
Item 1.01
Item 1.01
Entry into a Material Definitive Agreement.
Credit Agreement
On November 2, 2026 (the " Closing
Date "), the Combined Company and certain of its subsidiaries (collectively, the " Loan Parties ") entered into a Credit Agreement (the " Credit Agreement ") by and among the Combined Company, as the borrower, the other Loan Parties, as guarantors, the financial institutions from time to time party thereto as lenders, and Citibank, N.A. (" Citi "), as agent for the lenders and for itself as lender, providing for a senior secured term loan facility (the " Credit Facility ") in an aggregate principal amount of $650,000,000, all of which was borrowed on the Closing Date. Capitalized terms used in this Current
Report on Form 8-K without definition shall have the meanings assigned thereto in the Credit Agreement.
Facility are permitted to be used, in whole or in part, to consummate the Merger, to refinance or repay certain existing indebtedness1 of the Combined Company and its subsidiaries on the Closing Date, to pay fees, costs and expenses incurred in connection with the Merger and the Credit Agreement, and for general corporate purposes1 (including, without limitation, acquisitions and investments permitted under the Credit Agreement).
Interest Rate, Fees and Prepayments
From the Closing Date through the first day of the month immediately following the month during which the first quarterly financial statements are delivered, the term loans bear interest at a rate per annum equal to, at the Combined Company's option, (i) a rate based on Term SOFR plus 2.25% or
(ii) a rate based on the Base Rate plus 1.25%. Thereafter, the term loans will bear interest at a rate per annum equal to, at the Combined
Company's option, (i) a rate based on Term SOFR plus a variable applicable margin ranging from 2.00% to 2.75% based on the applicable total net leverage ratio or (ii) a rate based on the Base Rate plus a variable applicable margin ranging from 1.0
Item 2.01
Item 2.01
Completion of Acquisition or Disposition of Assets.2
The disclosure in the Introductory
Note of this Current Report on Form 8-K is incorporated herein by reference.
Subject to the terms and conditions of the Merger Agreement, at the Effective Time, and as a result of the Merger, each share of common stock of Supernus2, par value $0.001 per share, issued and outstanding immediately prior to the Effective Time (other than Excluded Shares, as defined in the Merger Agreement) was converted into the right to receive 1.5401 shares of Indivior common stock2, par value $0.001 per share (such ratio, the " Exchange
Ratio " and such shares, following the name change described in Item 5.03 below, " Indivior Shares "). No fractional shares were issued in the Merger; cash is payable in lieu of fractional shares, as described in the Merger Agreement. Upon completion of the Merger, legacy Indivior stockholders own approximately 56.5% of the Combined Company on a fully diluted basis and former Supernus stockholders own approximately 43.5% of the Combined Company on a fully diluted basis3.
In addition, at the Effective
Time and as a result of the Merger and without any action on the part of any holder thereof:
(i) each restricted stock unit of Supernus (" Supernus RSU ") that was then outstanding was automatically assumed and converted into an award of restricted stock units of the Combined Company (each, a " Rollover RSU ") with the same terms and conditions that applied to such Supernus RSU, including applicable vesting conditions, relating to a number of Indivior Shares equal to the product, rounded down to the nearest whole number, of (A) the number of shares of Supernus common stock subject to such Supernus RSU immediately prior to the Effective Time multiplied by (B) the Exchange Ratio;
(ii) each Supernus restricted stock unit subject to performance-based vesting restrictions (" Supernus PSU ") that was then outstanding was automatically assumed and converted into a Rollo
Item 2.03
Item 2.03
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth under Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.
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