Adagio Medical launches strategic alternatives review; cuts 25 of 43 employees

Adagio Medical Holdings, Inc.

Reducing workforce by 25 of 43 FTEs effective Sept 23, 2026; est. $1.3M in cash costs for severance and benefits.
Cash, equivalents and marketable securities ~$7.7M as of June 30, 2026 (preliminary unaudited).
Board initiates formal strategic review; may consider acquisition, merger, business combination; no timetable set.
Will lower 13% senior secured convertible notes conversion price to 85% of VWAP (5-day) during Sept 23–Oct 31, 2026.
Continuing to advance PMA application for vCLAS ventricular ablation system.

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