ADIAL PHARMACEUTICALS, INC. (ADIL): M&A transaction — Adial Pharmaceuticals amends 8-K to correct Purnovate sale closing date to August 17, 2023

ADIAL PHARMACEUTICALS, INC.

Corrected earliest event date from June 30 to August 17, 2023 for sale of Purnovate assets to Adovate.
Sale consideration included $450k upfront, 19.99% equity in Adovate, expense reimbursement, and milestone payments up to ~$11M (development/approval) and $50M (commercial).
No other changes to original 8-K; prior financial disclosures and terms remain unchanged.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ADIAL PHARMACEUTICALS, INC. completed a disposition involving Adovate, LLC (formerly known as Adenomed, LLC) (closed 2023-08-17).

Action: disposition
Counterparty: Adovate, LLC (formerly known as Adenomed, LLC)
Closing: 2023-08-17

Exact text from the filing

On August 17, 2023, the Company completed the sale of the assets and business of Purnovate, Inc. (“Purnovate”) to Adovate, LLC (formerly known as Adenomed, LLC) (collectively, “Adovate”) under that certain Option Agreement for the Acquisition of Purnovate, Inc. by Adenomed, LLC, dated as of January 27, 2023

View on SEC.gov

31 m&a transactions filed in the last 30 days. Browse all m&a transactions →

ADIAL PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-23-081590

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.