Subsequent Events

12 Months Ended

Dec. 27, 2024

Subsequent Events [Abstract]

Subsequent Events

22. Subsequent Events

On March 13, 2025, the Company entered into a Transaction Agreement (“Transaction Agreement”), with Endo, Inc., a Delaware corporation (“Endo”) and Salvare Merger Sub LLC, a Delaware limited liability company and wholly owned subsidiary of the Company (“Merger Sub”). The Transaction Agreement provides, among other things, and subject to the satisfaction or waiver of the conditions set forth therein, that (a) the memorandum and articles of association of the Company will be amended by means of a scheme of arrangement (“Articles Scheme Amendment”) under the Companies Act 2014 (“Scheme”) and shareholder approval; (b) the memorandum and articles of association of the Company will be further amended by shareholder approval following the Articles Scheme Amendment (together with the Articles Scheme Amendment, the “Articles Amendments”); and (c) Merger Sub will merge with and into Endo (such merger, the “Business Combination” and, together with the Articles Amendments, the “Transaction”), with Endo surviving the Business Combination as a wholly owned subsidiary of the Company. As a result of the Business Combination, each share of common stock, par value $0.001 per share, of Endo (“Endo Common Stock”), other than certain excluded shares of Endo Common Stock, will be cancelled and converted into the right to receive a number of ordinary shares of the Company (such number to be determined in accordance with the terms of the Transaction Agreement) and cash consideration (such cash consideration for all shares of Endo Common Stock to be $80.0 million in the aggregate (subject to potential adjustments)). The exchange ratio in the Transaction Agreement will be such that the shareholders of the Company will own 50.1% of the outstanding ordinary shares of the Company as of immediately following the effective time of the Business Combination. The Company is in the process of determining the accounting treatment of the Business Combination and the related impact on its consolidated financial statements, as applicable.