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DUBLIN - Bank of America Corporation has disclosed a 2.98% stake in Avadel Pharmaceuticals plc, according to a regulatory filing published Monday.
The disclosure, made under Irish Takeover Panel rules, shows Bank of America holds interests in 2,898,364 ordinary shares representing approximately 2.976% of Avadel Pharmaceuticals. The position includes 2,478,603 owned or controlled shares and 419,761 shares through cash-settled derivatives.
The filing also reveals Bank of America has short positions in 1,942,210 shares, equivalent to about 1.994% of the company. These short positions consist of 627,990 relevant securities and 1,314,220 cash-settled derivatives.
The disclosure details multiple transactions conducted on October 24, including purchases of Avadel shares at prices ranging from $18.53 to $18.57 per share. The largest single purchase involved 1,976 shares at $18.56 per share.
Bank of America also reported several sales transactions on the same date, with the largest being 126,855 shares sold at $18.56 per share.
The filing was made under Rule 8.3 of the Irish Takeover Panel Act, which requires disclosure of positions representing 1% or more of a company's securities during an offer period.
Avadel Pharmaceuticals is a specialty pharmaceutical company headquartered in Ireland. The disclosure was made through a regulatory news service as required by the London Stock Exchange.
The information is based on a Form 8.3 regulatory filing statement submitted to the Irish Takeover Panel.
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