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DUBLIN - Bank of America Corporation has disclosed a 3.023% stake in Avadel Pharmaceuticals plc, according to a regulatory filing made today.
The disclosure, made under Irish Takeover Panel rules, shows Bank of America holds 2,944,638 shares in the pharmaceutical company, including both direct ownership and derivative positions. The filing also reveals a short position of 1.956%, representing 1,904,861 shares.
The breakdown of Bank of America’s interest includes 2,517,907 relevant securities owned or controlled, representing 2.585% of Avadel, plus 426,731 shares through cash-settled derivatives, accounting for an additional 0.438%.
The filing details multiple transactions conducted on Wednesday, including numerous purchases at prices ranging from $18.75 to $18.89 per share. The largest single purchase was 14,962 shares at $18.79.
Bank of America also reported several sales transactions on the same day, with the largest being 9,781 shares at $18.81 per share.
The disclosure was made in compliance with Rule 8.3 of the Irish Takeover Panel Act, which requires persons with interests in relevant securities representing 1% or more to disclose their positions.
The filing did not indicate whether the stake acquisition is related to any potential takeover activity involving Avadel Pharmaceuticals.
This information was provided in a regulatory filing submitted to the London Stock Exchange’s Regulatory Information Service.
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