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DUBLIN - Morgan Stanley Capital Services LLC has disclosed its dealings in Avadel Pharmaceuticals plc (NASDAQ:AVDL) securities as required under Rule 38.5(a) of the Irish Takeover Panel Act, according to a regulatory filing released Monday.
The exempt principal trader, which has recognized intermediary status and deals in a client-serving capacity, reported transactions conducted on October 24, 2025.
The disclosure reveals that Morgan Stanley purchased 5,279 ordinary shares of Avadel at prices ranging from $18.54 to $18.5586 per share. The firm also sold 20,126 ordinary shares at prices between $18.5541 and $18.56.
Additionally, the filing detailed cash-settled derivative transactions involving Avadel securities. These included reducing a short position by 19,975 reference securities at $18.5544 per unit, reducing a long position by 5,100 reference securities at $18.5570 per unit, and increasing a short position by 28 reference securities at $18.5586 per unit.
The disclosure confirms that Morgan Stanley is connected to Avadel Pharmaceuticals in relation to these transactions. No indemnity arrangements or agreements relating to options or derivatives were reported in the filing.
This disclosure was made in compliance with the Irish Takeover Panel's requirements for exempt principal traders to report dealings in securities of companies involved in takeover situations.
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