REG - Goldman Sachs & Co. Avadel Pharma plc - Form 38.5b - Avadel Pharmaceuticals plc

Goldman SachsAnnouncement

20/11/2025 13:00

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RNS Number : 3975I  Goldman Sachs & Co. LLC  20 November 2025

 
FORM 38.5(b)

 

IRISH TAKEOVER PANEL

 

DISCLOSURE UNDER RULE 38.5(b) OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2013

 

DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS WITHOUT RECOGNISED INTERMEDIARY STATUS, OR WITH RECOGNISED INTERMEDIARY STATUS BUT NOT DEALING IN A CLIENT-SERVING CAPACITY

 

1. KEY INFORMATION

 

 Name of exempt principal trader                                          GOLDMAN SACHS & CO. LLC
 Company dealt in                                                         AVADEL PHARMACEUTICALS PLC
 Class of relevant security to which the dealings being disclosed relate  USD 0.01 ordinary shares
 (Note1)
 Date of dealing                                                          19 November 2025

 

2. INTERESTS AND SHORT POSITIONS

 

(a) Interests and short positions (following dealing) in the class of relevant security dealt in  (Note 2)

 

                                              Long               Short
                                              Number     (%)     Number   (%)
 (1) Relevant securities                      966,850    (0.99)  553,142  (0.56)
 (2) Derivatives (other than options)         94,251     (0.09)  63,843   (0.06)
 (3) Options and agreements to purchase/sell  0          (0.00)  0        (0.00)
 Total                                        1,061,101  (1.08)  616,985  (0.63)

 

(b) Interests and short positions in relevant securities of the company, other than the class dealt in  (Note 2)

 

 Class of relevant security:                  Long         Short
                                              Number  (%)  Number  (%)
 (1) Relevant securities
 (2) Derivatives (other than options)
 (3) Options and agreements to purchase/sell
 Total

 

3.    DEALINGS (Note 3)

(a) Purchases and sales

 

 Purchase/sale                   Number of relevant securities  Price per unit  (Note 4)
 Sale                            24                             23.0350 USD
 Sale                            131                            23.0350 USD
 Sale                            23                             23.0350 USD
 Sale                            28                             23.0373 USD
 Sale                            200                            23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            307                            23.0400 USD
 Sale                            20                             23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            400                            23.0400 USD
 Sale                            200                            23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            26                             23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            25                             23.0400 USD
 Sale                            400                            23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            200                            23.0400 USD
 Sale                            27                             23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            342                            23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            20                             23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            25                             23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            100                            23.0400 USD
 Sale                            400                            23.0450 USD
 Sale                            188                            23.0450 USD
 Sale                            300                            23.0450 USD
 Sale                            1,607                          23.0450 USD
 Sale                            112                            23.0450 USD
 Sale                            124                            23.0500 USD
 Sale                            13                             23.1000 USD
 Purchase (Loan Partial Return)  76,586                         N/A
 Purchase (Loan Partial Return)  13                             N/A
 Sale (Borrow Partial Return)    10,000                         N/A
 Sale (Borrow Partial Return)    12,200                         N/A
 Sale (Borrow Partial Return)    200                            N/A
 Sale (Borrow Partial Return)    11,000                         N/A
 Sale (Borrow Partial Return)    7,400                          N/A
 Sale (Borrow Partial Return)    3,000                          N/A
 Sale (Borrow Full Return)       4,000                          N/A
 Sale (Borrow Partial Return)    2,000                          N/A
 Sale (Borrow Partial Return)    1,000                          N/A
 Sale (Borrow Partial Return)    5,200                          N/A
 Purchase (Borrow New)           100                            N/A
 Sale (Borrow Full Return)       16,200                         N/A

 

(b) Derivatives transactions (other than options transactions)

 

 Product name, e.g. CFD  Nature of transaction  (Note 5)   Number of relevant securities  (Note 6)   Price per unit  (Note 4)
 CFD                     Reducing a long position          4,461                                     23.0439 USD
 CFD                     Reducing a long position          920                                       23.0972 USD

 

(c) Options transactions in respect of existing relevant securities

 

(i) Writing, selling, purchasing or varying

 

 Product name,e.g. call option  Writing, selling,  purchasing, varying etc.   Number of securities to which the option relates  (Note 7)   Exercise price  Type, e.g. American, European etc.  Expiry date  Option money paid/received per unit  (Note 4)

 

(ii)            Exercising

 

 Product name,e.g. call option  Number of securities  Exercise price per unit  (Note 4)

 

(d)            Other dealings (including transactions in respect of new securities)  (Note 3)

 

 Nature of transaction  (Note 7)   Details  Price per unit (if applicable)  (Note 4)

 

4. OTHER INFORMATION

 

Agreements, arrangements or understandings relating to options or derivatives

 

 Full details of any agreement, arrangement or understanding between the person
 disclosing and any other person relating to the voting rights of any relevant
 securities under any option referred to on this form or relating to the voting
 rights or future acquisition or disposal of any relevant securities to which
 any derivative referred to on this form is referenced.  If none, this should
 be stated.
 NONE

 

Is a Supplemental Form 8 attached? (Note 9)        YES

 

 Date of disclosure                            20 November 2025
 Contact name                                  Papa Lette and Andrzej Szyszka
 Telephone number                              +33(1) 4212 1459 / +48(22) 317 4817
 Name of offeree/offeror with which connected  AVADEL PHARMACEUTICALS PLC
 Nature of connection (Note 9)                 Advisor to Offeree

 

SUPPLEMENTAL FORM 38.5(b)

 

IRISH TAKEOVER PANEL

 

DISCLOSURE UNDER RULE 38.5(b) OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2013

 

DETAILS OF OPEN POSITIONS

 

OPEN POSITIONS (Note 1)

 

 Product name,e.g. call option  Written or purchased  Number of relevant securities to which the option or derivative relates  Exercise price (Note 2)  Type, e.g. American, European etc.  Expiry date
 Swap                           Sold                  84                                                                       0.0000                   N/A                                 17/12/2025
 Swap                           Purchased             33,762                                                                   0.0000                   N/A                                 20/01/2026

 

Notes

1. Where there are open option positions or open derivative positions (except
for CFDs), full details should be given. Full details of any existing
agreements to purchase or to sell must also be given on this form.

2. For all prices and other monetary amounts, the currency must be stated.

For full details of disclosure requirements, see Rules 8 and 38.5 of the
Rules. If in doubt, consult the Panel.

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