Alkermes plc. (ALKS): debt financing — Alkermes to acquire Avadel for $18.50/share plus up to $1.50 CVR; $1.23B bridge financing arranged

Alkermes plc.

Cash consideration of $18.50 per Avadel share; CVR for additional $1.50 upon FDA approval of LUMRYZ and legal settlement.
Bridge term loan of up to $1.23B from JPMorgan to fund the cash consideration and fees; margin 3% SOFR + step-up.
Acquisition subject to Avadel shareholder vote, Irish High Court sanction, and US antitrust clearance; expected to close in Q1 2026.
Avadel equity awards to be canceled for cash and CVRs; stock options with exercise price ≥ $18.50 cancelled for no consideration.
Alkermes reported cash and total investments of $1.1B as of Sept 30, 2025 per investor presentation.

item 1.01 item 2.02 item 2.03 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.7

Alkermes plc. incurred credit facility.

Instrument: credit facility
Event: incurrence

Exact text from the filing

On the Agreement Date, Alkermes entered into the Bridge Credit Agreement as described under Item 1.01 above.

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Alkermes plc. filing history →

Source: SEC EDGAR

accession 0001193125-25-245852

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