Adial announces management-led $2,100,000 above market private placement at $3.00 per share

Charlottesville, va., march 15, 2021 (globe newswire) -- adial pharmaceuticals, inc. (nasdaq: adil; adilw) (“adial” or the “company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced that it has entered into securities purchase agreements (“spas”) for the private placement of 700,001 shares of common stock at a price of $3.00 per share (the “shares”), for total proceeds of $2,100,000. the private placement investors include members of management and the board of directors of the company and keystone capital partners, llc (collectively, “investors”). no warrants or brokers fees were issued in this financing transaction.
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