---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-24-110191"
form_type: "8-K"
ticker: "ADIL"
cik: "0001513525"
company_name: "ADIAL PHARMACEUTICALS, INC."
filed_at: "2024-12-18T23:59:59+00:00"
generated_at: "2026-05-29T01:58:49.116013+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Adial enters $5M equity purchase agreement with Alumni Capital, terminates prior deal

## Summary
- Company can sell up to $5M (option to $10M) of common stock to Alumni Capital at 97% of VWAP, with $0.55/share floor.
- Issued 68,807 commitment shares as consideration; prior May 2023 agreement terminated.
- Sales at Company's discretion; proceeds for strategic opportunities, working capital, general corporate purposes.
- Agreement runs through Dec 31, 2026; Company can terminate on 10 days' notice.

## SEC filing metadata
- accession: 0001213900-24-110191
- form_type: 8-K
- ticker: ADIL
- cik: 0001513525
- company_name: ADIAL PHARMACEUTICALS, INC.
- filed_at: 2024-12-18T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1513525/000121390024110191/0001213900-24-110191-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1513525/000121390024110191/ea0225021-8k_adialpharm.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-24-110191
- JSON: https://secwatch.observer/filing/0001213900-24-110191.json
- Plain text: https://secwatch.observer/filing/0001213900-24-110191.txt

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