REG - Goldman Sachs & Co. Avadel Pharma plc - Form 38.5b - Avadel Pharmaceuticals plc
13/02/2026 08:00
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RNS Number : 8533S Goldman Sachs & Co. LLC 12 February 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 11 February 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 638,334 (0.65) 573,572 (0.58)
(2) Derivatives (other than options) 33,762 (0.03) 47,084 (0.04)
(3) Options and agreements to purchase/sell 0 (0.00) 0 (0.00)
Total 672,096 (0.69) 620,656 (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)
Purchase 13,234 21.6400 USD
Purchase 6,410 21.6400 USD
Purchase 1 21.6600 USD
Purchase 1 21.6600 USD
Purchase 1 21.6600 USD
Purchase 19 21.6650 USD
Purchase 17 21.6650 USD
Purchase 41 21.6650 USD
Purchase 42 21.6650 USD
Purchase 7 21.6650 USD
Purchase 12 21.6650 USD
Purchase 39 21.6650 USD
Purchase 37 21.6650 USD
Purchase 74 21.6650 USD
Purchase 10 21.6650 USD
Purchase 29 21.6650 USD
Purchase 27 21.6650 USD
Purchase 9 21.6650 USD
Purchase 18 21.6650 USD
Purchase 18 21.6650 USD
Purchase 11 21.6650 USD
Purchase 38 21.6650 USD
Purchase 34 21.6650 USD
Purchase 25 21.6650 USD
Purchase 10 21.6650 USD
Purchase 74 21.6650 USD
Purchase 7 21.6650 USD
Purchase 9 21.6650 USD
Purchase 18 21.6650 USD
Purchase 25 21.6650 USD
Purchase 20 21.6650 USD
Purchase 11 21.6650 USD
Purchase 11 21.6650 USD
Purchase 11 21.6650 USD
Purchase 52 21.6650 USD
Purchase 52 21.6650 USD
Purchase 46 21.6650 USD
Purchase 50 21.6650 USD
Purchase 50 21.6650 USD
Purchase 36 21.6650 USD
Purchase 18 21.6650 USD
Purchase 27 21.6650 USD
Purchase 13 21.6650 USD
Purchase 46 21.6650 USD
Purchase 39 21.6650 USD
Purchase 400 21.7000 USD
Purchase 400 21.7000 USD
Purchase 400 21.7000 USD
Purchase 400 21.7000 USD
Purchase 400 21.7000 USD
Purchase 634 21.7000 USD
Purchase 100 21.7050 USD
Purchase 300 21.7050 USD
Purchase 100 21.7050 USD
Purchase 100 21.7050 USD
Purchase 200 21.7050 USD
Purchase 272 21.7050 USD
Purchase 100 21.7050 USD
Purchase 400 21.7050 USD
Purchase 300 21.7050 USD
Purchase 100 21.7050 USD
Purchase 29 21.7050 USD
Purchase 300 21.7050 USD
Purchase 100 21.7050 USD
Purchase 100 21.7050 USD
Purchase 34 21.7050 USD
Purchase 100 21.7050 USD
Sale 121,542 21.6400 USD
Sale 1 21.6600 USD
Sale 9 21.6605 USD
Sale 20 21.6605 USD
Sale 14 21.6617 USD
Sale 7 21.6620 USD
Sale 19 21.6621 USD
Sale 103 21.6631 USD
Sale 18 21.6632 USD
Sale 22 21.6635 USD
Sale 8 21.6648 USD
Sale 200 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 160 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 657 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 712 21.6650 USD
Sale 100 21.6650 USD
Sale 200 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 200 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 100 21.6650 USD
Sale 400 21.6650 USD
Sale (Borrow Partial Return) 7,200 N/A
Sale (Borrow Partial Return) 200 N/A
Sale (Borrow Full Return) 6,300 N/A
Purchase (Loan Full Return) 356 N/A
Purchase (Borrow New) 1,400 N/A
Purchase (Borrow New) 7,200 N/A
Purchase (Borrow New) 6,700 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)
(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 12 February 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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