secwatch.observer — SEC 8-K summary
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Issuer:     ADIAL PHARMACEUTICALS, INC. (ADIL)
CIK:        0001513525
Form:       8-K/A
Filed at:   2026-08-11T01:13:05+00:00
Accession:  0001213900-26-087439
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.60
Item codes: 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Adial files Azora financials: Azora net loss $744K in 2025, $1.64M in 2024; going concern doubt
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- Azora net loss $744K in 2025, $1.64M in 2024; cash $282K at 12/31/25, accumulated deficit $9.4M.
- Merger consideration: 437,421 Adial shares + 12,930.617 Series A preferred (1,000 common each), options for 1,177,782 common.
- Concurrent PIPE raised $26.8M gross via pre-funded warrants at $2.7489/share for 9,749,345 shares.
- Azora $5.5M convertible notes extinguished via exchange for pre-funded warrants for 2,031,603 shares.
- Pro forma combined statements filed; Azora auditor cites substantial doubt about going concern.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1513525/000121390026087439/0001213900-26-087439-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1513525/000121390026087439/ea0299800-8ka1_adial.htm
  HTML page:      https://secwatch.observer/filing/0001213900-26-087439

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