Adial Pharmaceuticals closes $3.6M public offering of common stock and warrants; amends existing warrants

ADIAL PHARMACEUTICALS, INC.

Gross proceeds of ~$3.6M from sale of 11.1M shares (or equivalents) plus Series D and E warrants at $0.3251/unit.
Series D warrants exercisable at $0.35, expire 5 years after stockholder approval; Series E warrants expire 18 months post-approval.
Existing Series B-1 and C-1 warrants amended: exercise price cut from $0.74 to $0.35, expiration extended to 2030 and 2026 respectively.
Offering closed June 18, 2025; net proceeds to be used for working capital and general corporate purposes.

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