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DUBLIN - Morgan Stanley Capital Services LLC disclosed its dealings in Avadel Pharmaceuticals plc (NASDAQ:AVDL) securities on Monday, according to a regulatory filing published Tuesday.
The filing, made under Rule 38.5(a) of the Irish Takeover Panel Act, shows Morgan Stanley, acting as an exempt principal trader with recognized intermediary status, purchased 2,236 Avadel ordinary shares at prices ranging between $18.82 and $18.91 per share on November 3.
The disclosure also revealed sales of 122 shares at prices between $18.89 and $18.92 per share on the same day.
Additionally, Morgan Stanley engaged in several cash-settled derivative transactions involving Avadel shares, including increasing a short position by 403 securities at $18.88 per unit, reducing a short position by 96 securities at $18.89 per unit, and reducing long positions by 7 and 1,800 securities at prices of $18.90 and $18.90 per unit respectively.
The filing indicates Morgan Stanley is connected to Avadel Pharmaceuticals in relation to an unspecified offer. No indemnity arrangements or agreements relating to options or derivatives were reported in the disclosure.
The information was submitted to the Irish Takeover Panel as required under Irish regulatory rules for principal traders dealing in a client-serving capacity during takeover situations.
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