Avadel pharmaceuticals announces proposed underwritten public offering of adss and series b preferred shares

Dublin, ireland, march 29, 2023 (globe newswire) -- avadel pharmaceuticals plc (“avadel”) (nasdaq: avdl), a biopharmaceutical company focused on transforming medicines to transform lives, announced today that it is commencing an underwritten public offering of its ordinary shares, nominal value $0.01 per share (“ordinary shares”) in the form of american depositary shares (“adss”). each ads represents the right to receive one ordinary share. avadel may, in lieu of adss, offer and sell to certain investors series b non-voting convertible preferred shares, convertible into ordinary shares on a one-for-one basis (the “preferred shares,” together with the adss, the “shares”). all of the shares are being offered by avadel. in connection with the offering, avadel intends to grant the underwriters a 30-day option to purchase additional adss at the public offering price, less the underwriting discounts and commissions. the adss are listed under the symbol “avdl” on the nasdaq global market.
AVDL Ratings Summary
AVDL Quant Ranking