Supernus agrees to merge with Indivior; holders get 1.5401 Indivior shares each
On August 1, 2026, Supernus Pharmaceuticals entered a merger agreement with Indivior Pharmaceuticals and Artemis Merger Sub Inc., under which Supernus merges into the Indivior subsidiary and Indivior is renamed Supernus, Inc. Supernus shareholders would receive 1.5401 Indivior shares for each share held, and completion depends on shareholder approvals, antitrust clearance and other customary conditions.
Key points
- Each Supernus share converts into 1.5401 Indivior shares at the effective time, and Supernus equity awards are assumed or converted into Indivior awards.
- Indivior shareholders are expected to own about 56.5% of the combined company and Supernus shareholders about 43.5%, on a fully diluted basis.
- Indivior will declare a $1.0 billion special cash dividend before the effective time, payable after the merger, backed by a $650 million senior secured term loan commitment from Citibank, N.A.
- Either party may terminate if the merger is not effective within six months, extendable to twelve months; Indivior would pay a $174.0 million termination fee in certain cases and Supernus would pay $101.0 million in certain cases.
The filing
Written by AI on Nov 8, 2026, 2:07 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on August 03, 2026.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.