April 27, 2023
Spectrum Pharmaceuticals, Inc. Investigation
We are investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Spectrum Pharmaceuticals, Inc. (“Spectrum Pharmaceuticals” or the “Company”) (NASDAQ: SPPI), in connection with its acquisition by Assertio Holdings, Inc. (NASDAQ: ASRT) (“Assertio”). Under the merger agreement, the Company’s shareholders will receive 0.1783 shares of Assertio common stock for each of their shares, representing implied per-share consideration of $0.89 based upon Assertio’s April 26, 2023 closing price of $5.00. Additionally, Spectrum Pharmaceuticals shareholders will receive one Contingent Value Right (“CVR”) per Spectrum share entitling them to receive up to an additional $0.20 per share in total.
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