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DUBLIN - Morgan Stanley Capital Services LLC disclosed its trading activity in Avadel Pharmaceuticals plc (NASDAQ:AVDL) securities conducted on October 23, according to a regulatory filing released Friday.
The disclosure, made under Rule 38.5(a) of the Irish Takeover Panel Act, shows Morgan Stanley, operating as an exempt principal trader with recognized intermediary status, purchased 86,377 ordinary shares of Avadel at prices ranging from $18.5053 to $18.56 per share. The firm also sold 176,564 shares at prices between $18.50 and $18.56.
Additionally, Morgan Stanley executed several cash-settled derivative transactions involving Avadel shares. These included reducing short positions by 176,597 shares and long positions by 86,734 shares, while increasing a long position by 328 shares and a short position by 1 share.
The filing indicates Morgan Stanley is connected to Avadel Pharmaceuticals in relation to an unspecified offer or potential transaction. No stock-settled derivative transactions, indemnity arrangements, or voting rights agreements were reported in the disclosure.
The information was submitted to comply with Irish takeover regulations that require disclosure of dealings by connected exempt principal traders. The disclosure was made through the Regulatory Information Service of the London Stock Exchange as required by Rule 38 of the Irish Takeover Rules.
The filing is based on a regulatory disclosure statement submitted to the Irish Takeover Panel.
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