AMRX - Amneal to reorganize and simplify corporate structure

2023-10-17 16:34:51 ET

Amneal Pharmaceuticals ( NYSE: AMRX ) said that it plans to reorganize and simplify its corporate structure, which includes eliminating its umbrella partnership-C-corporation structure.

The biotech company said it intends to convert to a more traditional corporate structure whereby all stockholders will hold their voting and economic interests directly through the public company.

Under the reorganization plan, Amneal will form a new Delaware corporation with a single class of common stock, which will replace the existing company as the listed company. Holders of Class A common shares will have their shares replaced by an equivalent number of Class A shares in the new company, with the same voting and economic rights.

Amneal expects the reorganization to be completed in November.

For further details see: