Cerevel Therapeutics’ Corporate Transformation and Market Delisting

The latest announcement is out from Cerevel Therapeutics Holdings (CERE).

Following a successful merger, Cerevel became a fully-owned subsidiary of AbbVie, resulting in significant corporate changes including the amendment of Cerevel’s certificate of incorporation and bylaws, the resignation of its board members, and the appointment of a new sole director. Additionally, Cerevel has settled its convertible senior notes due 2027 entirely in cash, has notified Nasdaq to halt and delist its shares, and intends to suspend its SEC reporting obligations. Furthermore, Cerevel terminated its Sales Agreement with Jefferies, with no shares sold under the agreement, and faces no termination penalties.

For a thorough assessment of CERE stock, go to TipRanks’ Stock Analysis page.