Endo Inc. moved forward with its plans to go public on the New York Stock Exchange. This comes almost two years after Endo International went bankrupt because of lawsuits over opioids and competition from generic drugs.
Endo Inc., a new company that was formed in April, bought most of Endo International PLC’s assets.
Endo, a company that trades over-the-counter under the symbol NDOI, filed a registration statement on Friday so that current stockholders can sell up to 12.6 million shares. There are no shares for sale by the company in the offering. It plans to go public on the NYSE with the symbol NDO.
Since it first appeared on the OTCQX Best Market in late June, not many people have bought or sold the stock. Thursday, shares ended the day at $28.25.
In a press release, the company said that trading on the NYSE should start later in 2024, but that this is subject to certain conditions and approvals, such as the Securities and Exchange Commission making the registration statement official.
Endo’s sales dropped 13% to $2.01 billion in 2023.
