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DUBLIN - Investment firm Citadel Group has disclosed a 1.64% stake in Avadel Pharmaceuticals plc, according to a regulatory filing published Tuesday.
The disclosure, made under Irish Takeover Panel rules, shows Citadel holds interests in 1,603,537 shares, representing 1.64% of the biopharmaceutical company. The position includes 1,441,737 owned or controlled shares and 161,800 shares through stock-settled derivatives.
Citadel also reported short positions totaling 1,105,034 shares, or 1.13% of the company, consisting of 322,234 shares and 782,800 shares through derivatives.
The filing details numerous transactions conducted on November 24, with Citadel both buying and selling Avadel shares at prices ranging from approximately $22.84 to $23.17 per share.
The disclosure includes extensive options positions, with Citadel holding various put and call options with strike prices between $5 and $35, expiring between December 2025 and January 2027.
Irish takeover rules require investors to disclose positions when they hold interests in 1% or more of a company’s relevant securities.
Avadel Pharmaceuticals, headquartered in Ireland, is listed on the Nasdaq exchange. The disclosure was made via a Form 8.3 filing, which is required when a company may be involved in a takeover situation.
The information was provided in a regulatory news service announcement based on a company press release statement.
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