Supernus, Inc. (formerly Indivior Pharmaceuticals, Inc.) filed a Form 8-K on November 2, 2026, reporting the completion of its merger with Supernus Pharmaceuticals, Inc. and the simultaneous entry into a $650,000,000 senior secured term loan facility.

Key Highlights

  • Merger effective: The business combination between Indivior Pharmaceuticals, Inc. and Supernus Pharmaceuticals, Inc. was completed effective at 8:18 a.m. Eastern Time on November 2, 2026.
  • Name change: Immediately upon completion of the merger, Indivior Pharmaceuticals, Inc. was renamed Supernus, Inc., with common stock trading under the symbol INDV on the Nasdaq Stock Market LLC.
  • Exchange ratio: Each share of Supernus Pharmaceuticals common stock was converted into the right to receive 1.5401 shares of Indivior (now Supernus, Inc.) common stock.
  • Ownership split: According to the filing, legacy Indivior stockholders own approximately 56.5% of the Combined Company on a fully diluted basis, and former Supernus stockholders own approximately 43.5%.
  • Credit facility: The Combined Company entered into a $650,000,000 senior secured term loan facility with Citibank, N.A. as agent, with all proceeds borrowed on the closing date.
  • Initial interest rate: Term loans initially bear interest at Term SOFR plus 2.25%, or Base Rate plus 1.25%, with variable margins thereafter based on total net leverage ratio.

Indivior and Supernus Pharmaceuticals Combine, Forming Renamed Entity

According to the filing, Artemis Merger Sub Inc., a wholly owned subsidiary of Indivior Pharmaceuticals, Inc., merged with and into Supernus Pharmaceuticals, Inc., with Supernus Pharmaceuticals continuing as the surviving corporation and becoming a wholly owned subsidiary of the Combined Company. The Combined Company is now known as Supernus, Inc. and its common stock, $0.001 par value per share, is registered under the trading symbol INDV on NASDAQ:INDV.

The filing states that each share of Supernus Pharmaceuticals common stock 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 stock. No fractional shares were issued; cash is payable in lieu of fractional shares, as described in the Merger Agreement. Supernus RSUs and PSUs outstanding at the effective time were assumed and converted into Rollover RSUs of the Combined Company, with PSUs converted to time-based vesting awards, each adjusted by the 1.5401 exchange ratio.

On the closing date, the Combined Company also entered into a Credit Agreement with Citibank, N.A. as agent, providing a senior secured term loan facility of $650,000,000, all of which was drawn on November 2, 2026. The filing discloses that proceeds are permitted to be used to consummate the merger, refinance or repay certain existing indebtedness, pay transaction-related fees and expenses, and for general corporate purposes. The Credit Agreement contains customary affirmative and negative covenants, including maximum Total Net Leverage Ratio and minimum Consolidated Interest Coverage Ratio financial covenants, as well as customary events of default. The filing notes that the occurrence of an event of default may result in termination of the Credit Agreement and acceleration of repayment obligations.

What Was Disclosed

The filing reports the November 2, 2026 completion of the Indivior-Supernus Pharmaceuticals merger, the related renaming of the combined entity to Supernus, Inc., and the entry into a $650,000,000 senior secured term loan facility with Citibank, N.A. as agent on the same date.