# EDGAR Filing Document

**Accession Number:** 0001625297
**File Stem:** 0001315863-25-000466
**Filing Date:** 2025-6
**Character Count:** 19385
**Document Hash:** 27e001a34c051f68093f1bc5b5ac2b16
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001315863-25-000466.hdr.sgml**: 20250618

**ACCESSION NUMBER**: 0001315863-25-000466

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20250618

**DATE AS OF CHANGE**: 20250618

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** INDIVIOR PLC
- **CENTRAL INDEX KEY:** 0001625297
- **STANDARD INDUSTRIAL CLASSIFICATION:** PHARMACEUTICAL PREPARATIONS [2834]
- **ORGANIZATION NAME:** 03 Life Sciences
- **EIN:** 000000000
- **STATE OF INCORPORATION:** X0
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-94167
- **FILM NUMBER:** 251056738

**BUSINESS ADDRESS:**
- **STREET 1:** 234 BATH ROAD
- **CITY:** SLOUGH, BERKSHIRE
- **STATE:** X0
- **ZIP:** SL1 4EE
- **BUSINESS PHONE:** 804-379-1090

**MAIL ADDRESS:**
- **STREET 1:** 234 BATH ROAD
- **CITY:** SLOUGH, BERKSHIRE
- **STATE:** X0
- **ZIP:** SL1 4EE
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Two Seas Capital LP
- **CENTRAL INDEX KEY:** 0001823138

**ORGANIZATION NAME:**
- **EIN:** 843799363
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**BUSINESS ADDRESS:**
- **STREET 1:** 32 ELM PLACE, 3RD FLOOR
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580
- **BUSINESS PHONE:** 917.536.6028

**MAIL ADDRESS:**
- **STREET 1:** 32 ELM PLACE, 3RD FLOOR
- **CITY:** RYE
- **STATE:** NY
- **ZIP:** 10580

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Kairos Capital Management LP
- **DATE OF NAME CHANGE:** 20200831

## Exhibit 99.1

Exhibit 99.1

#### TRANSACTIONS
Except as previously disclosed in this Schedule 13D, as amended, the following table sets forth all transactions by the Reporting Persons (on behalf of the Funds) with respect to the Ordinary Shares effected in the last 60 days, inclusive of any transactions effected through 4:00 p.m., New York City time, on June 17, 2025. Except as otherwise noted below, all such transactions were purchases or sales of Ordinary Shares effected in the open market, and the table excludes commissions paid in per share prices.

---

| | | |
|:---|:---|:---|
| Amount Purchased/(Sold) | Price Per<br> Share (£) (or $ if noted below) | Date of<br> Purchase/Sale |

---

#### TWO SEAS GLOBAL (MASTER) FUND LP

---

| | | |
|:---|:---|:---|
| (25000) | $11.28 (1) | 05/23/2025 |
| (50000) | $11.30 | 05/23/2025 |
| (12500) | $11.35 | 05/23/2025 |
| (12500) | $11.38 | 05/23/2025 |
| (35000) | $11.77 | 05/27/2025 |
| 50000 | 8.584 (2) | 05/27/2025 |
| (50000) | $12.18 | 05/29/2025 |
| 679 | 9.011 (3) | 05/29/2025 |
| (50000) | $12.30 | 05/29/2024 |
| 50000 | 9.356 (4) | 05/30/2024 |
| (25000) | $13.64 | 06/04/2025 |
| 37500 | 9.695 (5) | 06/04/2025 |
| (50000) | $13.71 | 06/04/2025 |
| (25000) | $13.62 | 06/05/2025 |
| (25000) | $13.66 | 06/05/2025 |
| 300000 | 9.885 | 06/05/2025 |
| 25000 | 9.986 (6) | 06/05/2025 |
| (50000) | $13.96 (7) | 06/06/2025 |
| (25000) | $14.05 | 06/06/2025 |
| 1776 | 10.043 (8) | 06/06/2025 |
| (50000) | $13.85 (9) | 06/10/2025 |
| 150000 | 10.12 | 06/11/2025 |
| (50000) | $13.875 (10) | 06/12/2025 |
| (12500) | $13.95 | 06/12/2025 |
| 11121 | 10.179 (11) | 06/12/2025 |
| 250000 | 10.25 | 06/13/2025 |
| 250000 | 10.40 | 06/16/2025 |
| 90988 | 10.29 | 06/17/2025 |
| 59012 | 10.29 | 06/17/2025 |

---

#### TWO SEAS LITIGATION OPPORTUNITIES FUND LLC

---

| | | |
|:---|:---|:---|
| (25000) | $11.28 (12) | 05/23/2025 |
| (50000) | $11.30 | 05/23/2025 |
| (12500) | $11.35 | 05/23/2025 |
| (12500) | $11.38 | 05/23/2025 |
| (100000) | $11.70 | 05/27/2025 |
| (100000) | $13.06 | 06/03/2025 |
| (25000) | $13.64 | 06/04/2025 |
| 37500 | 9.695 (13) | 06/04/2025 |
| (50000) | $13.71 | 06/04/2025 |
| (25000) | $13.62 | 06/05/2025 |
| (25000) | $13.66 | 06/05/2025 |
| 25000 | 9.986 (14) | 06/05/2025 |
| (50000) | $13.96 (15) | 06/06/2025 |
| (25000) | $14.05 | 06/06/2025 |
| 1776 | 10.043 (16) | 06/06/2025 |
| (50000) | $13.85 (17) | 06/10/2025 |
| (50000) | $13.875 (18) | 06/12/2025 |
| (12500) | $13.95 | 06/12/2025 |
| 11120 | 10.179 (19) | 06/12/2025 |

---

------

(1) The sale price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.28 to $11.31, inclusive. The reporting persons undertake to provide to the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased or sold, as applicable, at each separate price within the ranges set forth in footnotes (1) – (19).

(2) The purchase price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from £8.47 to £8.65, inclusive.

(3) The purchase price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from £9.008 to £9.013, inclusive.

(4) The purchase price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from £9.233 to £9.445, inclusive.

(5) The purchase price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from £9.305 to £10.025, inclusive.

(6) The purchase price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from £9.885 to £10.17, inclusive.

(7) The sale price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.95 to $13.97, inclusive.

(8) The purchase price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from £10.03 to £10.05, inclusive.

(9) The sale price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.80 to $13.90, inclusive.

(10) The sale price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.85 to $13.90, inclusive.

(11) The purchase price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from £10.12 to £10.20, inclusive.

(12) The sale price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $11.28 to $11.31, inclusive.

(13) The purchase price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from £9.305 to £10.025, inclusive.

(14) The purchase price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from £9.885 to £10.17, inclusive.

(15) The sale price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.95 to $13.97, inclusive.

(16) The purchase price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from £10.03 to £10.05, inclusive.

(17) The sale price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.80 to $13.90, inclusive.

(18) The sale price is a weighted average price. These shares were sold in multiple transactions at prices ranging from $13.85 to $13.90, inclusive.

(19) The purchase price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from £10.12 to £10.20, inclusive.

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 7)**

**INDIVIOR PLC**

*(Name of Issuer)*

**Ordinary Shares, $0.50 nominal value per share**

*(Title of Class of Securities)*

**G4766E116**

*(CUSIP Number)*

**Lawrence V. Palermo**<br>Two Seas Capital LP<br>32 Elm Place, 3rd Floor<br>Rye NY 10580<br>(646) 420-4504

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**06/17/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **G4766E116** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Two Seas Capital LP** | Name of reporting person<br>**Two Seas Capital LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**12072398.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**12072398.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**12072398.00** | Aggregate amount beneficially owned by each reporting person<br>**12072398.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**9.7%** | Percent of class represented by amount in Row (11)<br>**9.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IA** | Type of Reporting Person (See Instructions)<br>**IA** | |

---

| **CUSIP No.** | **G4766E116** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Two Seas Capital GP LLC** | Name of reporting person<br>**Two Seas Capital GP LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**12072398.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**12072398.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**12072398.00** | Aggregate amount beneficially owned by each reporting person<br>**12072398.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**9.7%** | Percent of class represented by amount in Row (11)<br>**9.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**HC** | Type of Reporting Person (See Instructions)<br>**HC** | |

---

| **CUSIP No.** | **G4766E116** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Sina Toussi** | Name of reporting person<br>**Sina Toussi** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**AF** | Source of funds (See Instructions)<br>**AF** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**12072398.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**12072398.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**12072398.00** | Aggregate amount beneficially owned by each reporting person<br>**12072398.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**9.7%** | Percent of class represented by amount in Row (11)<br>**9.7%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Ordinary Shares, $0.50 nominal value per share

**(b) Name of Issuer:**
INDIVIOR PLC

**(c) Address of Issuer's Principal Executive Offices:**
10710 Midlothian Turnpike, Suite 125, North Chesterfield, VA, 23235

The following constitutes Amendment No. 7 ("Amendment No. 7") to the Schedule 13D filed with the Securities and Exchange Commission ("SEC") by Two Seas Capital LP ("TSC"), Two Seas Capital GP LLC ("TSC GP") and Sina Toussi (collectively, the "Reporting Persons") on October 2, 2023, as amended by Amendment No. 1 filed on March 29, 2024, Amendment No. 2 filed on June 21, 2024, Amendment No. 3 filed on October 17, 2024, Amendment No. 4 filed on January 17, 2025, Amendment No. 5 filed on March 4, 2025, and Amendment No. 6 filed on May 22, 2025.  This Amendment No. 7 amends and supplements the Schedule 13D as specifically set forth herein.

All capitalized terms contained herein but not otherwise defined shall have the meanings ascribed to such terms in the Schedule 13D, as amended. Information given in response to each item shall be deemed incorporated by reference in all other items, as applicable.

**Item 5. Interest in Securities of the Issuer**

**(a)**
Each of the Reporting Persons may be deemed to beneficially own 12,072,398 Ordinary Shares of the Issuer, which represents approximately 9.7% of the Ordinary Shares outstanding, based on 124,769,533 Ordinary Shares of the Issuer outstanding as of May 1, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on May 1, 2025.  The Funds have delegated to TSC sole voting and investment power over the securities held by the Funds pursuant to their respective Investment Management Agreements with TSC. As a result, each of TSC, TSC GP, as the general partner of TSC, and Mr. Toussi, as Chief Investment Officer of TSC and Managing Member of TSC GP, may be deemed to exercise voting and investment power over the Ordinary Shares directly held by the Funds. The Funds specifically disclaim beneficial ownership of the securities of the Issuer directly held by them by virtue of their inability to vote or dispose of such securities as a result of their respective Investment Management Agreements with TSC. The information in Item 3 regarding the number of Ordinary Shares held by the Funds is incorporated herein by reference.

**(b)**
Items 7 through 10 of each of the cover pages of this Schedule 13D are incorporated herein by reference.

**(c)**
Except as previously disclosed in this Schedule 13D, as amended, transactions by the Reporting Persons (on behalf of the Funds) effected during the past 60 days are set forth in Exhibit 99.1 and such information is incorporated herein by reference.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 of this Schedule 13D is supplemented and superseded, as the case may be, as follows:

On June 17, 2025, the Litigation Fund paid down the remaining $7,000,000 that was outstanding under the Credit Facility, and as a result, there are no more shares held by the Litigation Fund that are pledged to UBS.  

The Global Fund has entered into cash-settled swaps which represent economic exposure comparable to a notional interest in 1,453,697 Ordinary Shares (representing economic exposure comparable to approximately 1.2% of the outstanding Ordinary Shares) with Jefferies Financial Products, LLC.  Under the terms of the swaps, (i) the Global Fund will be obligated to pay to the counterparty any negative price performance of the specified notional number of Ordinary Shares subject to the swaps as of the expiration date of such swaps, plus interest rates set forth in the applicable contracts, and (ii) the counterparty will be obligated to pay the Global Fund any positive price performance of the specified notional number of Ordinary Shares subject to the swaps as of the expiration date of the swaps.  All balances will be settled in cash. The swaps do not give the Reporting Persons or Funds direct or indirect voting, investment or dispositive control over any securities of the Issuer and do not require the counterparty thereto to acquire, hold, vote or dispose of any securities of the Issuer.  Accordingly, the Reporting Persons disclaim any beneficial ownership of any Ordinary Shares that may be referenced in the swap contracts or Ordinary Shares or other securities or financial instruments that may be held from time to time by any counterparty to the contracts.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Two Seas Capital LP

**Signature:** /s/ Sina Toussi

**Name/Title:** Sina Toussi/Managing Member of Two Seas Capital GP LLC, its general partner

**Date:** 06/18/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Two Seas Capital GP LLC

**Signature:** /s/ Sina Toussi

**Name/Title:** Sina Toussi/Managing Member

**Date:** 06/18/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Sina Toussi

**Signature:** /s/ Sina Toussi

**Name/Title:** Sina Toussi/ Self

**Date:** 06/18/2025