secwatch.observer — SEC 8-K summary
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Issuer:     ADIAL PHARMACEUTICALS, INC. (ADIL)
CIK:        0001513525
Form:       8-K/A
Filed at:   2023-10-30T23:59:59+00:00
Accession:  0001213900-23-081590
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 2.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Adial Pharmaceuticals amends 8-K to correct Purnovate sale closing date to August 17, 2023
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1513525/000121390023081590/0001213900-23-081590-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1513525/000121390023081590/ea187358-8ka1_adialphar.htm
  HTML page:      https://secwatch.observer/filing/0001213900-23-081590

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer