secwatch.observer — SEC 8-K summary
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Issuer:     ADIAL PHARMACEUTICALS, INC. (ADIL)
CIK:        0001513525
Form:       8-K
Filed at:   2023-02-24T23:59:59+00:00
Accession:  0001213900-23-014138
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Adial Pharmaceuticals prices $0.75M registered direct offering at $0.41/share
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- Sold 1,829,269 shares at $0.41 each to an institutional investor for ~$750,000 gross proceeds.
- Net proceeds estimated at ~$550,000 after placement agent fees and expenses; used for working capital.
- Placement agent Joseph Gunnar & Co. receives 10% fee and warrant to purchase 182,927 shares at $0.41.
- Offering expected to close Feb 24, 2023; shares registered under existing S-3 shelf registration statement.
- Also entered voting agreement with investor for next stockholder meeting.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1513525/000121390023014138/0001213900-23-014138-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1513525/000121390023014138/ea174187-8k_adialpharma.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-014138

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