---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-257254"
form_type: "8-K"
ticker: "AMRX"
cik: "0001723128"
company_name: "Amneal Pharmaceuticals, Inc."
filed_at: "2023-10-17T23:59:59+00:00"
generated_at: "2026-06-09T22:41:33.154166+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Amneal to eliminate Up-C structure, form NewCo; expects $30M annual tax-distribution savings

## Summary
- Binding term sheet executed Oct. 16, 2023 to reorganize into single-class structure via new Delaware holding company (NewCo).
- All existing Class A and Class B shares convert to NewCo Class A common stock; target completion November 2023.
- Six-month 2023 tax-related cash distributions were $30M; elimination expected to improve cash flows and reduce debt.
- Tax Receivable Agreement amended: Amneal Legacy Group's share of tax savings reduced from 85% to 75%; no cash consideration.
- NewCo to trade under same ticker AMRX on NYSE; management and board unchanged.

## SEC filing metadata
- accession: 0001193125-23-257254
- form_type: 8-K
- ticker: AMRX
- cik: 0001723128
- company_name: Amneal Pharmaceuticals, Inc.
- filed_at: 2023-10-17T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1723128/000119312523257254/0001193125-23-257254-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1723128/000119312523257254/d560382d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-257254
- JSON: https://secwatch.observer/filing/0001193125-23-257254.json
- Plain text: https://secwatch.observer/filing/0001193125-23-257254.txt

## Key facts
- Material Agreements
  Amneal Pharmaceuticals, Inc. entered into Term Sheet with holders of the Company's Class B Common Stock (the (effective 2023-10-16).
  - Action: entry
  - Counterparty: holders of the Company's Class B Common Stock (the
  - Effective: 2023-10-16
  source text: On October 16, 2023, Amneal Pharmaceuticals, Inc. (the “Company”), Amneal Pharmaceuticals LLC (the “LLC”), and a representative (the “Amneal Group Representative”) of holders of the Company’s Class B Common Stock, par value $0.01 per share (the “Amneal Legacy Group”), executed a binding term sheet (the “Term Sheet”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1723128/000119312523257254/0001193125-23-257254-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.