Assertio Holdings Inc. (NASDAQ: ASRT) announced that it has reached a mutual agreement with Garda Therapeutics Inc. to delay the launch of the previously announced tender offer to acquire all outstanding shares of Assertio to May 14, 2026.

Under the amended and restated merger agreement announced on May 4, 2026, Garda will acquire Assertio for $21.80 per share in cash, representing total cash consideration of $153.2 million. The company expects to file a Schedule 14D-9 in connection with the tender offer on May 14, 2026.

Assertio will also delay the launch of the previously announced tender offer for all outstanding Convertible Senior Notes until May 14, 2026.

The Lake Forest, Illinois-based pharmaceutical company focuses on marketing products primarily in the oncology market. The tender offer has not yet commenced, and the solicitation will only be made pursuant to a tender offer statement on Schedule TO that Garda and its wholly owned acquisition subsidiary, Audi Merger Sub Inc., intend to file with the Securities and Exchange Commission.

Upon completion of the transaction, Assertio would become a wholly owned subsidiary of Garda. The company stated that investors will be able to obtain the tender offer materials free of charge at the SEC's website once filed.