secwatch.observer — SEC 8-K summary
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Issuer:     ADIAL PHARMACEUTICALS, INC. (ADIL)
CIK:        0001513525
Form:       8-K
Filed at:   2024-12-18T23:59:59+00:00
Accession:  0001213900-24-110191
Event type: other_material
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 1.02, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1513525/000121390024110191/0001213900-24-110191-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1513525/000121390024110191/ea0225021-8k_adialpharm.htm
  HTML page:      https://secwatch.observer/filing/0001213900-24-110191

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