{"schema_version":"secwatch.filing_event.v1","accession":"0001213900-23-045360","form_type":"8-K","ticker":"ADIL","cik":"0001513525","company_name":"ADIAL PHARMACEUTICALS, INC.","filed_at":"2023-06-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:39.180209+00:00","generated_at":"2026-06-14T08:09:48.192532+00:00","sec_items":["1.01","3.02","9.01"],"event_type":"other_material","sentiment":"negative","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Adial Pharmaceuticals secures up to $3M equity facility with Alumni Capital","bullets":["Enters purchase agreement with Alumni Capital to sell up to $3M (increasable to $10M) of common stock at 95% of 3-day VWAP.","Issues 199,620 commitment shares to Alumni; additional shares if deal size increases.","Company controls timing and amount of draws; each draw capped at $500K ($2M with mutual consent).","Minimum purchase price set at $0.15/share; Alumni barred from short-selling or hedging.","Facility runs through Dec 31, 2024; company may terminate on 10 days' notice."],"urls":{"canonical":"https://secwatch.observer/filing/0001213900-23-045360","json":"https://secwatch.observer/filing/0001213900-23-045360.json","markdown":"https://secwatch.observer/filing/0001213900-23-045360.md","text":"https://secwatch.observer/filing/0001213900-23-045360.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1513525/000121390023045360/0001213900-23-045360-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1513525/000121390023045360/ea179668-8k_adialpharm.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T08:09:48.192532+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"8d12cae3985327279fca629a5c1485e4eb6ba39c","claim":"ADIAL PHARMACEUTICALS, INC. entered into Purchase Agreement with Alumni Capital LP valued at $3,000,000 (effective 2023-05-31).","evidence_excerpt":"On May 31, 2023, Adial Pharmaceuticals, Inc. (the “Company,” “we,” “us” or “our”) entered into a Purchase Agreement (the “Purchase Agreement”) with Alumni Capital LP (“Alumni Capital”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1513525/000121390023045360/0001213900-23-045360-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Alumni Capital LP"},{"label":"Value","value":"$3,000,000"},{"label":"Effective","value":"2023-05-31"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}