{"id":935717,"date":"2026-02-10T16:09:48","date_gmt":"2026-02-10T21:09:48","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/avadel-pharmaceuticals-announces-outcome-of-the-court-sanction-hearing\/"},"modified":"2026-02-10T16:09:48","modified_gmt":"2026-02-10T21:09:48","slug":"avadel-pharmaceuticals-announces-outcome-of-the-court-sanction-hearing","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/avadel-pharmaceuticals-announces-outcome-of-the-court-sanction-hearing\/","title":{"rendered":"Avadel Pharmaceuticals Announces Outcome of the Court Sanction Hearing"},"content":{"rendered":"
\n

\n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION.<\/strong>\n <\/p>\n

DUBLIN, Feb. 10, 2026 (GLOBE NEWSWIRE) — Avadel Pharmaceuticals plc (Nasdaq: AVDL), a public limited company incorporated in Ireland (\u201cAvadel<\/strong>\u201d or the \u201cCompany<\/strong>\u201d) announces that the Irish High Court (the \u201cCourt<\/strong>\u201d) has today sanctioned, without modification, the scheme of arrangement between Avadel and its shareholders under Chapter 1 of Part 9 of the Irish Companies Act 2014 (the \u201cScheme<\/strong>\u201d) pursuant to which Alkermes plc, a public limited company incorporated in Ireland (\u201cAlkermes<\/strong>\u201d) will acquire the entire issued and to be issued ordinary share capital of Avadel (the \u201cAvadel Shares<\/strong>\u201d and such transaction, the \u201cProposed Transaction<\/strong>\u201d).<\/p>\n

As set out in the definitive proxy statement filed by Avadel with the U.S. Securities and Exchange Commission (the \u201cSEC<\/strong>\u201d) on December 3, 2025 (the \u201cDefinitive Proxy Statement<\/strong>\u201d), completion of the Proposed Transaction remains subject to the delivery to the Registrar of Companies of a copy of the Court Order sanctioning the Scheme.<\/p>\n

Assuming that a copy of the Court Order is processed and made available to Avadel by no later than February 11, 2026, the Court Order is expected to be delivered to the Registrar of Companies on February 12, 2026 and, accordingly, the Scheme is expected to take effect on February 12, 2026. Accordingly, February 11, 2026 is expected to be the last date on which trading of Avadel Shares on the Nasdaq Global Market (\u201cNasdaq<\/strong>\u201d) will occur. It is expected that Avadel will request Nasdaq halt trading of the Avadel Shares effective as of 8.00 p.m. (U.S. Eastern Time) on February 11, 2026.<\/p>\n

Except as otherwise defined herein, capitalised terms used but not defined in this announcement have the same meanings as given to them in the Definitive Proxy Statement, which also constitutes a scheme circular under Irish law.<\/p>\n

\n About Avadel<\/strong>\n <\/p>\n

Avadel Pharmaceuticals\u00a0plc\u00a0(Nasdaq: AVDL) is a biopharmaceutical company focused on transforming medicines to transform lives. Avadel\u2019s approach includes applying innovative solutions to the development of medications that address the challenges patients face with current treatment options. Avadel\u2019s commercial product, LUMRYZ\u2122, was approved by the\u00a0U.S. Food & Drug Administration\u00a0as the first and only once-at-bedtime oxybate for extended-release oral suspension for the treatment of cataplexy or excessive daytime sleepiness in patients 7 years and older with narcolepsy. For more information, please visit Avadel\u2019s website at\u00a0www.avadel.com<\/a><\/u><\/strong>.<\/p>\n

\n Contacts:<\/strong>\n <\/p>\n

Avadel Investor Relations:
investors@avadel.com<\/p>\n

Precision AQ:
Austin Murtagh
Austin.Murtagh@precisionAQ.com<\/a>
(212) 698-8696<\/p>\n

\n
\n CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS<\/em>
\n <\/strong>\n <\/p>\n

This announcement contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are often identified by words such as \u201canticipate,\u201d \u201cbelieve,\u201d \u201cintend,\u201d \u201cestimate,\u201d \u201cexpect,\u201d \u201cseek,\u201d \u201ccontinue,\u201d \u201ccould,\u201d \u201ccan,\u201d \u201cmay,\u201d \u201cwill,\u201d \u201clikely,\u201d \u201cdepend,\u201d \u201cshould,\u201d \u201cwould,\u201d \u201cplan,\u201d \u201cpredict,\u201d \u201ctarget,\u201d and similar expressions, and may include references to assumptions and relate to Avadel\u2019s future prospects, developments and business strategies, and the Proposed Transaction. Such forward-looking statements include, but are not limited to, statements relating to the Proposed Transaction involving Alkermes and Avadel, Avadel\u2019s current expectations and estimates about the anticipated benefits of the Proposed Transaction, the parties\u2019 ability to satisfy the conditions to the consummation of the Proposed Transaction and the other conditions set forth in the transaction agreement between Alkermes and Avadel regarding the Proposed Transaction. Avadel\u2019s expectations and beliefs regarding these matters may not materialize. Actual outcomes and results may differ materially from those contemplated by these forward-looking statements as a result of uncertainties, risks, and changes in circumstances, including but not limited to risks and uncertainties related to: (i) the ability of the parties to consummate the Proposed Transaction in a timely manner or at all; (ii) the satisfaction (or waiver) of conditions to the consummation of the Proposed Transaction; (iii) potential delays in consummating the Proposed Transaction; (iv) the ability of Avadel to timely and successfully achieve the anticipated benefits of the Proposed Transaction (v) the impact of health pandemics on the parties\u2019 respective businesses and the actions the parties may take in response thereto; (vi) the occurrence of any event, change or other circumstance or condition that could give rise to the termination of the transaction agreement between Alkermes and Avadel regarding the Proposed Transaction; (vii) the effect of the pendency of the Proposed Transaction on Avadel\u2019s business relationships, operating results and business generally; (viii) costs related to the Proposed Transaction; and (ix) the outcome of any legal proceedings that have been or may be instituted against the parties or any of their respective directors or officers related to the transaction agreement between Alkermes and Avadel regarding the Proposed Transaction or the Proposed Transaction. Additional risks and uncertainties that could cause actual outcomes and results to differ materially from those contemplated by the forward-looking statements are included under the caption \u201cRisk Factors\u201d and elsewhere in Avadel\u2019s most recent filings with the SEC, including its Annual Report on Form 10-K for the year ended December 31, 2024 and any subsequent reports on Form 10-Q or Form 8-K filed with the SEC from time to time and available at www.sec.gov. These documents can be accessed on Avadel\u2019s website at https:\/\/investors.avadel.com\/sec-filings. The forward-looking statements set out in this announcement are made only as of the date hereof. Avadel assumes no obligation and does not intend to update these forward- looking statements, except as required by law.<\/p>\n

\n
\n RESPONSIBILITY STATEMENT REQUIRED BY THE IRISH TAKEOVER RULES<\/em>
\n <\/strong>\n <\/p>\n

The directors of Avadel accept responsibility for the information contained in this announcement. To the best of the knowledge and belief of the directors of Avadel (who have taken all reasonable care to ensure such is the case), the information contained in this announcement is in accordance with the facts and does not omit anything likely to affect the import of such information.<\/p>\n

\n
\n DEALING DISCLOSURE REQUIREMENTS OF THE IRISH TAKEOVER RULES<\/em>
\n <\/strong>\n <\/p>\n

Under the provisions of Rule 8.3(a) of the Irish Takeover Rules, any person who is \u2018interested\u2019 (directly or indirectly) in 1% or more of any class of \u2018relevant securities\u2019 of Avadel must make an \u2018opening position disclosure\u2019 following the commencement of the \u2018offer period\u2019. An \u2018opening position disclosure\u2019 must contain the details contained in Rule 8.6(a) of the Irish Takeover Rules, including, among other things, details of the person\u2019s \u2018interests\u2019 and \u2018short positions\u2019 in any \u2018relevant securities\u2019 of Avadel. An \u2018opening position disclosure\u2019 by a person to whom Rule 8.3(a) applies must be made by no later than 3:30 p.m. (U.S. Eastern Time) on the day falling ten \u2018business days\u2019 following the commencement of the \u2018offer period\u2019. Relevant persons who deal in any \u2018relevant securities\u2019 prior to the deadline for making an \u2018opening position disclosure\u2019 must instead make a \u2018dealing\u2019 disclosure as described below. The offer period in respect of Avadel in relation to the Proposed Transaction commenced on October 22, 2025.<\/p>\n

Under the provisions of Rule 8.3(b) of the Irish Takeover Rules, if any person is, or becomes, \u2018interested\u2019 (directly or indirectly) in 1% or more of any class of \u2018relevant securities\u2019 of Avadel, that person must publicly disclose all \u2018dealings\u2019 in any \u2018relevant securities\u2019 of Avadel during the \u2018offer period\u2019, by no later than 3:30 p.m. (U.S. Eastern Time) on the \u2018business day\u2019 following the date of the relevant transaction.<\/p>\n

If two or more persons cooperate on the basis of any agreement either express or tacit, either oral or written, to acquire an \u2018interest\u2019 in \u2018relevant securities\u2019 of Avadel or any securities exchange offeror, they will be deemed to be a single person for the purpose of Rule 8.3 of the Irish Takeover Rules.<\/p>\n

In addition, each of Avadel and any offeror must make an \u2018opening position disclosure\u2019 by no later than 12:00 noon (U.S. Eastern Time) on the date falling ten \u2018business days\u2019 following the commencement of the \u2018offer period\u2019 or the announcement that first identifies a securities exchange offeror, as applicable, and disclose details of any \u2018dealings\u2019 by it or any person \u2018acting in concert\u2019 with it in \u2018relevant securities\u2019 during the \u2018offer period\u2019, by no later than 12:00 noon (U.S. Eastern Time) on the \u2018business day\u2019 following the date of the transaction (see Rules 8.1, 8.2 and 8.4 of the Irish Takeover Rules).<\/p>\n

A disclosure table, giving details of the companies in whose \u2018relevant securities\u2019 \u2018opening position\u2019 and \u2018dealings\u2019 should be disclosed can be found on the Irish Takeover Panel\u2019s website at www.irishtakeoverpanel.ie.<\/p>\n

\u2018Interests\u2019 in securities arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an \u2018interest\u2019 by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.<\/p>\n

Terms in quotation marks in this section are defined in the Irish Takeover Rules, which can be found on the Irish Takeover Panel\u2019s website. If you are in any doubt as to whether or not you are required to disclose an \u2018opening position\u2019 or \u2018dealing\u2019 under Rule 8 of the Irish Takeover Rules, please consult the Irish Takeover Panel\u2019s website at www.irishtakeoverpanel.ie or contact the Irish Takeover Panel on telephone number +353 1 678 9020.<\/p>\n

\n
\n PUBLICATION ON WEBSITE <\/em>
\n <\/strong>\n <\/p>\n

In accordance with Rule 26.1 of the Irish Takeover Rules, a copy of this announcement will be available on Avadel\u2019s website at https:\/\/investors.avadel.com\/transaction-overview by no later than 12:00 noon (U.S. Eastern Time) on the business day following publication of this announcement. The content of the website referred to in this announcement is not incorporated into, and does not form part of, this announcement.<\/p>\n

\n
\n ADDITIONAL INFORMATION<\/em>
\n <\/strong>\n <\/p>\n

The release, publication or distribution of this announcement in, into, or from, certain jurisdictions other than Ireland and the United States may be restricted or affected by the laws of those jurisdictions. Accordingly, copies of this announcement are not being, and must not be, mailed or otherwise forwarded, distributed or sent in, into, or from any such jurisdiction. Therefore, persons who receive this announcement (including without limitation nominees, trustees and custodians) and are subject to the laws of any jurisdiction other than Ireland and the United States who are not resident in Ireland and the United States will need to inform themselves about, and observe, any applicable restrictions or requirements. Any failure to do so may constitute a violation of the securities laws of any such jurisdiction.<\/p>\n

\n
\n NO PROFIT FORECAST \/ QUANTIFIED FINANCIAL BENEFIT STATEMENT \/ ASSET VALUATION<\/em>
\n <\/strong>\n <\/p>\n

No statement in this announcement is intended to constitute a profit forecast or a quantified financial benefit statement for any period, nor should any statements be interpreted to mean that earnings or earnings per share will necessarily be greater or lesser than those for the relevant preceding financial periods. No statement in this announcement constitutes an asset valuation.<\/p>\n

\"\"
\n
\n \"\"\n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. DUBLIN, Feb. 10, 2026 (GLOBE NEWSWIRE) — Avadel Pharmaceuticals plc (Nasdaq: AVDL), a public limited company incorporated in Ireland (\u201cAvadel\u201d or the \u201cCompany\u201d) announces that the Irish High Court (the \u201cCourt\u201d) has today sanctioned, without modification, the scheme of arrangement between Avadel and its shareholders under Chapter 1 of Part 9 of the Irish Companies Act 2014 (the \u201cScheme\u201d) pursuant to which Alkermes plc, a public limited company incorporated in Ireland (\u201cAlkermes\u201d) will acquire the entire issued and to be issued ordinary share capital of Avadel … <\/p>\n

Continue reading “Avadel Pharmaceuticals Announces Outcome of the Court Sanction Hearing”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-935717","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nAvadel Pharmaceuticals Announces Outcome of the Court Sanction Hearing - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/avadel-pharmaceuticals-announces-outcome-of-the-court-sanction-hearing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Avadel Pharmaceuticals Announces Outcome of the Court Sanction Hearing - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF THAT JURISDICTION. 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DUBLIN, Feb. 10, 2026 (GLOBE NEWSWIRE) — Avadel Pharmaceuticals plc (Nasdaq: AVDL), a public limited company incorporated in Ireland (\u201cAvadel\u201d or the \u201cCompany\u201d) announces that the Irish High Court (the \u201cCourt\u201d) has today sanctioned, without modification, the scheme of arrangement between Avadel and its shareholders under Chapter 1 of Part 9 of the Irish Companies Act 2014 (the \u201cScheme\u201d) pursuant to which Alkermes plc, a public limited company incorporated in Ireland (\u201cAlkermes\u201d) will acquire the entire issued and to be issued ordinary share capital of Avadel … Continue reading \"Avadel Pharmaceuticals Announces Outcome of the Court Sanction Hearing\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/avadel-pharmaceuticals-announces-outcome-of-the-court-sanction-hearing\/","og_site_name":"Market Newsdesk","article_published_time":"2026-02-10T21:09:48+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTY1MjE3MSM3NDE4OTYzIzIwOTA5NTM=","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"9 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avadel-pharmaceuticals-announces-outcome-of-the-court-sanction-hearing\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avadel-pharmaceuticals-announces-outcome-of-the-court-sanction-hearing\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Avadel Pharmaceuticals Announces Outcome of the Court Sanction Hearing","datePublished":"2026-02-10T21:09:48+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avadel-pharmaceuticals-announces-outcome-of-the-court-sanction-hearing\/"},"wordCount":1805,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avadel-pharmaceuticals-announces-outcome-of-the-court-sanction-hearing\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTY1MjE3MSM3NDE4OTYzIzIwOTA5NTM=","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/avadel-pharmaceuticals-announces-outcome-of-the-court-sanction-hearing\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/avadel-pharmaceuticals-announces-outcome-of-the-court-sanction-hearing\/","name":"Avadel Pharmaceuticals Announces Outcome of the Court Sanction Hearing - 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