---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-245852"
form_type: "8-K"
ticker: "ALKS"
cik: "0001520262"
company_name: "Alkermes plc."
filed_at: "2025-10-22T23:59:59+00:00"
generated_at: "2026-05-17T02:44:06.676904+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Alkermes to acquire Avadel for $18.50/share plus up to $1.50 CVR; $1.23B bridge financing arranged

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-245852
- form_type: 8-K
- ticker: ALKS
- cik: 0001520262
- company_name: Alkermes plc.
- filed_at: 2025-10-22T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.02, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1520262/000119312525245852/0001193125-25-245852-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1520262/000119312525245852/d946576d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-245852
- JSON: https://secwatch.observer/filing/0001193125-25-245852.json
- Plain text: https://secwatch.observer/filing/0001193125-25-245852.txt

## Key facts
- Debt Financings
  Alkermes plc. incurred credit facility.
  - Instrument: credit facility
  - Event: incurrence
  source text: On the Agreement Date, Alkermes entered into the Bridge Credit Agreement as described under Item 1.01 above.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1520262/000119312525245852/0001193125-25-245852-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.