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By The Online Investor Staff, updated Thu., Mar. 30, 7:01 PM
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Secondary Stock Offerings| This Slide: #1 of 25 |
Slide #1. Avadel Pharmaceuticals plc — Secondary Offering
Company:
Avadel Pharmaceuticals plc (NASDAQ:AVDL)
Date announced:
3/29/2023
Shares Offered:
4,705,882
Date of Pricing:
3/29/2023
Price Per Share:
$8.50
Secondary Offering Details:
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. -updated 3/29- Avadel Pharmaceuticals plc ("Avadel") (Nasdaq: AVDL), a biopharmaceutical company focused on transforming medicines to transform lives, announced today the pricing of an underwritten public offering of 10,000,001 of its ordinary shares, nominal value $0.01 per share ("Ordinary Shares") in the form of American Depositary Shares ("ADSs") and of 4,705,882 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"). Each ADS represents the right to receive one Ordinary Share. All of the Shares are being offered by Avadel. The public offering price of each ADS is $8.50 and the public offering price of each Preferred Share is $8.50. In connection with the public offering, Avadel has granted the underwriters a 30-day option to purchase up to an additional 2,205,882 ADSs at the public offering price, less the underwriting discounts and commissions. The gross proceeds to Avadel from the offering are expected to be approximately $125 million, before deducting underwriting discounts and commissions and estimated offering expenses.
Avadel Pharmaceuticals is a biopharmaceutical company. Co.'s primary product candidate, FT218, is an investigational once-nightly formulation of sodium oxybate for the treatment of excessive daytime sleepiness and cataplexy in narcolepsy patients. Co.'s commercial products are: Akovaz, which is indicated for the treatment of hypotension occurring in the setting of anesthesia; Bloxiverz, which is indicated for the reversal of the effects of non-depolarizing neuromuscular blocking agents after surgery; and Vazculep®, which is for the treatment of hypotension occuring in the setting of anesthesia; and Nouress, which is a sterile injectable product for use in the hospital setting.
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3/1/2023:
Company: Option Care Health, Inc. (OPCH)
Shares Offered: 13,000,000
More: offering details »
3/2/2023:
Company: Cidara Therapeutics, Inc. (CDTX)
Shares Offered: 9,640,000
More: offering details »
3/2/2023:
Company: Biomerica, Inc. (BMRA)
More: offering details »
3/6/2023:
Company: BridgeBio Pharma, Inc. (BBIO)
Shares Offered: 8,823,530
More: offering details »
3/6/2023:
Company: Hamilton Lane Incorporated (HLNE)
Shares Offered: 671,737
More: offering details »
3/7/2023:
Company: Miromatrix Medical Inc. (MIRO)
Shares Offered: 6,250,000
More: offering details »
3/7/2023:
Company: Southwest Gas Holdings, Inc. (SWX)
Shares Offered: 3,576,180
More: offering details »
3/7/2023:
Company: Portillo's Inc. (PTLO)
Shares Offered: 8,000,000
More: offering details »
3/7/2023:
Company: AerCap Holdings N.V. (AER)
Shares Offered: 23,000,000
More: offering details »
3/7/2023:
Company: Shoals Technologies Group, Inc. (SHLS)
Shares Offered: 24,501,650
More: offering details »
3/8/2023:
Company: FTAI Aviation Ltd. (FTAI)
Shares Offered: 2,600,000
More: offering details »
3/8/2023:
Company: Clearwater Analytics Holdings, Inc. (CWAN)
Shares Offered: 13,000,000
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3/8/2023:
Company: SVB Financial Group (SIVB)
More: offering details »
3/8/2023:
Company: SVB Financial Group (SIVB)
More: offering details »
3/8/2023:
Company: Stagwell Inc. (STGW)
Shares Offered: 16,000,000
More: offering details »
3/8/2023:
Company: ONE Gas, Inc. (OGS)
Shares Offered: 2,000,000
More: offering details »
3/14/2023:
Company: Ormat Technologies, Inc. (ORA)
Shares Offered: 3,600,000
More: offering details »
3/23/2023:
Company: Clean Energy Technologies, Inc. (CETY)
Shares Offered: 975,000
More: offering details »
3/24/2023:
Company: 89bio, Inc. (ENTB)
Shares Offered: 16,923,077
More: offering details »
3/28/2023:
Company: PolyPid Ltd. (PYPD)
Shares Offered: 14,660,000
More: offering details »
3/28/2023:
Company: Draganfly Inc. (DPRO)
Shares Offered: 8,000,000
More: offering details »
3/29/2023:
Company: Biomea Fusion, Inc. (BMEA)
Shares Offered: 5,000,000
More: offering details »
3/29/2023:
Company: Viking Therapeutics, Inc. (VKTX)
Shares Offered: 17,242,000
More: offering details »
3/29/2023:
Company: Avadel Pharmaceuticals plc (AVDL)
Shares Offered: 10,000,001
More: offering details »
3/29/2023:
Company: Avadel Pharmaceuticals plc (AVDL)
Shares Offered: 4,705,882
More: offering details »
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Avg. Broker Rec.
 
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Strong Buy (3.70 out of 4) 66th percentile
(ranked higher than approx. 66% of all stocks covered)
Analysts' Target Price: AVDL Stock Forecast Based on Zacks ABR data; powered by Xignite |
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