As previously announced, the board of directors of Avadel Pharmaceuticals plc (NASDAQ: AVDL), a public limited company incorporated in Ireland (the " Company" or " Avadel") and the board of directors of Alkermes plc (NASDAQ: ALKS), a public limited company incorporated in Ireland (" Alkermes") reached agreement on the terms of an offer for the Company by Alkermes, pursuant to which Alkermes will acquire the entire issued and to be issued ordinary share capital of the Company (the " Proposed Transaction"). As outlined in both the announcement made by the Company and Alkermes under Rule 2.7 of the Irish Takeover Rules on October 22, 2025, and in the revised offer announcement made by the Company and Alkermes on November 19, 2025, the Proposed Transaction is to be implemented by way of a scheme of arrangement under Chapter 1 of Part 9 of the Irish Companies Act 2014 (the " Scheme").
In accordance with Rule 15(c) of the Irish Takeover Rules, Avadel and Alkermes announce that a joint letter, dated December 5, 2025, containing details of the proposal (the " Rule 15 Proposal") to: (i) equity award holders under the Avadel Pharmaceuticals plc 2017 Omnibus Incentive Compensation Plan (as amended), the Avadel Pharmaceuticals plc 2020 Omnibus Incentive Compensation Plan and the Avadel Pharmaceuticals plc 2021 Inducement Plan (as amended) (each an " Avadel Equity Award Holder"); and (ii) participants in the Avadel Pharmaceuticals plc 2017 Employee Share Purchase Plan (each an " Avadel ESPP Participant"), has today been sent to the Avadel Equity Award Holders and the Avadel ESPP Participants in connection with the Proposed Transaction.
As previously announced, the board of directors of Avadel Pharmaceuticals plc (NASDAQ: AVDL), a public limited company incorporated in Ireland (the " **Company**" or " **Avadel**") and the board of directors of Alkermes plc (NASDAQ: ALKS), a public limited company incorporated in Ireland (" **Alkermes**") reached agreement on the terms of an offer for the Company by Alkermes, pursuant to which Alkermes will acquire the entire issued and to be issued ordinary share capital of the Company (the " **Proposed Transaction**"). As outlined in both the announcement made by the Company and Alkermes under Rule 2.7 of the Irish Takeover Rules on October 22, 2025, and in the revised offer announcement made by the Company and Alkermes on November 19, 2025, the Proposed Transaction is to be implemented by way of a scheme of arrangement under Chapter 1 of Part 9 of the Irish Companies Act 2014 (the " **Scheme**").
In accordance with Rule 15(c) of the Irish Takeover Rules, Avadel and Alkermes announce that a joint letter, dated December 5, 2025, containing details of the proposal (the " **Rule 15** **Proposal**") to: (i) equity award holders under the Avadel Pharmaceuticals plc 2017 Omnibus Incentive Compensation Plan (as amended), the Avadel Pharmaceuticals plc 2020 Omnibus Incentive Compensation Plan and the Avadel Pharmaceuticals plc 2021 Inducement Plan (as amended) (each an " **Avadel Equity Award Holder**"); and (ii) participants in the Avadel Pharmaceuticals plc 2017 Employee Share Purchase Plan (each an " **Avadel ESPP Participant**"), has today been sent to the Avadel Equity Award Holders and the Avadel ESPP Participants in connection with the Proposed Transaction.<p>As previously announced, the board of directors of Avadel Pharmaceuticals plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/AVDL">AVDL</a>), a public limited company incorporated in Ireland (the "<strong>Company</strong>" or "<strong>Avadel</strong>") and the board of directors of Alkermes plc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/quote/ALKS">ALKS</a>), a public limited company incorporated in Ireland ("<strong>Alkermes</strong>") reached agreement on the terms of an offer for the Company by Alkermes, pursuant to which Alkermes will acquire the entire issued and to be issued ordinary share capital of the Company (the "<strong>Proposed Transaction</strong>"). As outlined in both the announcement made by the Company and Alkermes under Rule 2.7 of the Irish Takeover Rules on October 22, 2025, and in the revised offer announcement made by the Company and Alkermes on November 19, 2025, the Proposed Transaction is to be implemented by way of a scheme of arrangement under Chapter 1 of Part 9 of the Irish Companies Act 2014 (the "<strong>Scheme</strong>").</p><p>In accordance with Rule 15(c) of the Irish Takeover Rules, Avadel and Alkermes announce that a joint letter, dated December 5, 2025, containing details of the proposal (the "<strong>Rule 15</strong> <strong>Proposal</strong>") to: (i) equity award holders under the Avadel Pharmaceuticals plc 2017 Omnibus Incentive Compensation Plan (as amended), the Avadel Pharmaceuticals plc 2020 Omnibus Incentive Compensation Plan and the Avadel Pharmaceuticals plc 2021 Inducement Plan (as amended) (each an "<strong>Avadel Equity Award Holder</strong>"); and (ii) participants in the Avadel Pharmaceuticals plc 2017 Employee Share Purchase Plan (each an "<strong>Avadel ESPP Participant</strong>"), has today been sent to the Avadel Equity Award Holders and the Avadel ESPP Participants in connection with the Proposed Transaction.</p>