|Over a week ago|
Assertio Holdings regains compliance with Nasdaq minimum bid price rule » 09:3706/0406/04/21
Assertio Holdings announced that that it received a notification letter from the Listing Qualifications Department of The Nasdaq Stock Market indicating that the Company has regained compliance with the minimum bid price requirement set forth in Rule 5550(a)(2) of the Nasdaq Listing Rules Accordingly, the Company has regained compliance with the Minimum Bid Price Requirement and this matter is now closed.
Assertio Holdings announces adjournment of Annual Meeting of Shareholders » 06:3605/1705/17/21
Assertio Holdings announced partial results and the partial adjournment of the Company's 2021 Annual Meeting of Shareholders, which was held at 1:00 p.m. Central Time on May 11, 2021 and at which time all director nominees were elected and Proposals 4 and 5, as set forth in the Company's Definitive Proxy Statement, were approved by stockholders. The Company adjourned the meeting with respect to Proposal 2 and Proposal 3 for the limited purpose of allowing additional time for stockholders to vote. Support for Proposal 2 has exceeded 80% of the votes cast on the proposal, though approval of more than 50% of all of the Company's outstanding shares of common stock is necessary for the proposal to be approved. While the votes cast prior to adjournment strongly favor Proposal 2, approximately 86 million shares remained unvoted on the proposal at the time of adjournment. The principal reason for the Reverse Split and Proportional Authorized Shares Reduction Proposal is to give the Board discretion to increase the per-share trading price of the Company's common stock to meet the minimum bid price requirements for continued listing on Nasdaq. Support for Proposal 3 has exceeded 76% of the votes cast on the proposal. However, approval of more than 50% of all of the Company's outstanding shares of common stock is necessary for the proposal to be approved. While the votes cast prior to adjournment strongly favor Proposal 3, approximately 86 million shares remained unvoted at the time of adjournment. Both leading independent proxy advisory firms, Institutional Shareholder Services and Glass Lewis & Co., have recommended in favor of the Reverse Split and Proportional Authorized Shares Reduction Proposal and the Increase in Authorized Shares Proposal.
Assertio Holdings announces 1-for-4 stock split » 06:3405/1705/17/21
Assertio Holdings announced that it has filed a Certificate of Amendment to its certificate of incorporation to implement a one-to-four reverse split of its issued and outstanding common stock. The Reverse Split will become effective as of 12:01 a.m. Eastern Time on May 18, 2021, and the Company's common stock will begin trading on a split-adjusted basis when the market opens on May 18, 2021.
|Over a month ago|
Assertio Holdings, Cover partner to make CAMBIA, SPRIX available online » 09:0705/0505/05/21
Assertio Holdings and…
Assertio Holdings and Cove announced a collaboration to make CAMBIA for oral solution and SPRIX nasal spray available to Cove's patient population. Using Cove's online telemedicine platform, patients complete a consultation with a licensed physician who can prescribe a variety of treatment options, including CAMBIA for a patient's acute treatment of migraine attacks with or without aura in adults and SPRIX for short-term management of moderate to moderately severe pain which requires analgesia at the opioid level in adults.
Assertio Holdings upgraded to Buy from Hold at Gabelli » 08:1704/0904/09/21
Gabelli analyst Kevin…
Gabelli analyst Kevin Kedra upgraded Assertio Holdings to Buy from Hold with a 2021 private market value estimate of 80c. The 38% selloff in shares since last month's Q4 results creates a "more compelling" valuation, Kedra tells investors in a research note. Further, the analyst has increased confidence in Assertio's restructuring efforts and hub-based operating model after recent conversations with management. Kedra feels better about the company's ability to maximize cash flow through the hub-focused business model while limiting revenue disruption from the lack of a field sales force.
|Over a quarter ago|
Assertio Therapeutics raises $34.3M in a registered direct offering » 06:0102/1002/10/21
Assertio Therapeutics announced it has entered into a securities purchase agreement with certain institutional investors to purchase 35,000,000 shares of its common stock at a price of 98c per share, which is a premium to market based on applicable Nasdaq "minimum price" rules. Roth Capital Partners acted as the sole placement agent in connection with the offering.
Unusually active option classes on open February 9th » 09:4002/0902/09/21
TYME, ASRT, ON, UBS, GTE, CRSR, NRZ, BP, XOM, BLNK
Unusual total active…
Unusual total active option classes on open include: Tyme Technologies (TYME), Assertio Therapeutics (ASRT), ON Semiconductor (ON), UBS (UBS), Gran Tierra (GTE), Corsair Gaming (CRSR), New Residential (NRZ), BP (BP), Exxon Mobil (XOM), and Blink Charging (BLNK).
Assertio Therapeutics prices 22.6M share registered direct offering at 62c/shr » 06:1102/0502/05/21
Roth Capital Partners…
Roth Capital Partners acted as the sole placement agent in connection with the offering.
Assertio Therapeutics announces $5M insurance settlement » 16:4202/0302/03/21
Assertio Therapeutics has…
Assertio Therapeutics has entered into a confidential settlement agreement and mutual release with its primary product liability insurer, Navigators Specialty Insurance Company and Navigators Insurance Company. The settlement agreement resolves the previously disclosed declaratory judgment action that Navigators filed in 2019, and Assertio Therapeutics' related counterclaims, stemming from a dispute as to whether the opioid lawsuits brought against Assertio Therapeutics beginning in May 2018 are covered under its life sciences liability policies with Navigators. Pursuant to the settlement agreement, Navigators has agreed to pay $5M of its $10M primary policy to Assertio Therapeutics by February 17. The company is updating its previously stated range for the cost of the restructuring announced on December 15, 2020 from $8M to $10M to $11M-$12M to account for additional non-cash charges relating to the write-off of certain office lease and furniture assets. In addition, the company has determined certain events existed at the end of fiscal year 2020 representing a triggering event for an impairment assessment of its long-lived assets and goodwill. Although the company has not yet completed its impairment assessment, it expects to recognize a non-cash impairment charge of no less than $9M for the quarterly period ended December 31, 2020.
Assertio Therapeutics files $100M mixed securities shelf 06:3601/2501/25/21