REG - Goldman Sachs & Co. Avadel Pharma plc - Form 38.5b - Avadel Pharmaceuticals plc
15/01/2026 08:16
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RNS Number : 0325P Goldman Sachs & Co. LLC 15 January 2026
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 13 January 2026
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 632,141 (0.64) 480,299 (0.49)
(2) Derivatives (other than options) 39,256 (0.04) 47,084 (0.04)
(3) Options and agreements to purchase/sell 0 (0.00) 0 (0.00)
Total 671,397 (0.68) 527,383 (0.54)
(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)
Purchase 20 21.4700 USD
Purchase 20,196 21.4800 USD
Purchase 38 21.4800 USD
Purchase 20 21.4800 USD
Purchase 42 21.4850 USD
Purchase 43 21.4850 USD
Purchase 20 21.4859 USD
Purchase 30 21.4860 USD
Purchase 80 21.4900 USD
Purchase 20 21.4900 USD
Purchase 36 21.4900 USD
Purchase 47 21.4900 USD
Purchase 53 21.4900 USD
Purchase 20 21.4900 USD
Purchase 20 21.4900 USD
Purchase 23 21.4915 USD
Purchase 74 21.4950 USD
Purchase 76 21.4950 USD
Purchase 75 21.4950 USD
Purchase 46 21.5000 USD
Purchase 20 21.5000 USD
Purchase 20 21.5000 USD
Purchase 6 21.5000 USD
Purchase 48 21.5000 USD
Purchase 74 21.5000 USD
Purchase 6 21.5000 USD
Purchase 20 21.5000 USD
Purchase 43 21.5000 USD
Purchase 39 21.5000 USD
Purchase 42 21.5050 USD
Purchase 80 21.5050 USD
Purchase 48 21.5100 USD
Purchase 20 21.5100 USD
Purchase 61 21.5100 USD
Purchase 80 21.5100 USD
Purchase 71 21.5200 USD
Sale 10 21.4800 USD
Sale 11 21.4808 USD
Sale 13 21.4814 USD
Sale 14 21.4824 USD
Sale 11 21.4896 USD
Sale 1 21.4900 USD
Sale 1 21.4900 USD
Sale 10 21.4900 USD
Sale 1 21.4900 USD
Sale 10 21.4900 USD
Sale 4 21.4900 USD
Sale 1 21.4900 USD
Sale 14 21.4917 USD
Sale 12 21.4918 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 1 21.4950 USD
Sale 14 21.4951 USD
Sale 13 21.4984 USD
Sale 13 21.4992 USD
Sale 12 21.4998 USD
Sale 1 21.5000 USD
Sale 1 21.5000 USD
Sale 1 21.5000 USD
Sale 1 21.5000 USD
Sale 16 21.5000 USD
Sale 3 21.5000 USD
Sale 9 21.5000 USD
Sale 1 21.5000 USD
Sale 3 21.5000 USD
Sale 14 21.5017 USD
Sale 13 21.5041 USD
Sale 18 21.5055 USD
Sale 16 21.5055 USD
Sale 4 21.5100 USD
Sale 2 21.5100 USD
Sale 1 21.5100 USD
Sale 5 21.5100 USD
Sale 11 21.5104 USD
Sale 12 21.5104 USD
Sale 10 21.5200 USD
Sale 10 21.5200 USD
Sale 2 21.5300 USD
Sale 1 21.5300 USD
Sale 1 21.5300 USD
Sale 1 21.5300 USD
Sale 1 21.5300 USD
Purchase (Borrow New) 6,100 N/A
Sale (Loan New) 1,457 N/A
Sale (Loan New) 1,146 N/A
Purchase (Loan Full Return) 1,146 N/A
Purchase (Loan Full Return) 311 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)
SWAP Reducing a long position 33,762 21.5000 USD
SWAP Opening a long position 33,762 21.5000 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 15 January 2026
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 13/03/2026
Swap Purchased 33,762 0.0000 N/A 15/04/2026
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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