Mallinckrodt completes acquisition of Endo; new $1.35B credit facilities

Keenova Therapeutics plc

Acquisition closed July 31, 2025; Endo shareholders received $1.31 cash + 0.2575 Mallinckrodt shares per share.
New $1.35B senior secured facilities: $1.2B term loan (fully drawn Aug 1) and $150M revolver; maturity July 31, 2030.
Existing debt refinanced: ~$385.5M term loans and ~$477.2M notes repaid; make-whole premiums of ~$10.6M and ~$13.7M paid.
Board reconstituted: three directors resigned; four Endo directors (Efron, Hirsch, Langlois, Yoskowitz) and Leslie Donato appointed.
Post-merger committees set: Efron Chair; Langlois chairs Audit; Bisaro, Dorton, Zinman on committees.

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