--- title: "REG - Goldman Sachs & Co. Avadel Pharma plc - Form 38.5b - Avadel Pharmaceuticals PLC" type: "News" locale: "en" url: "https://longbridge.com/en/news/275915920.md" description: "Goldman Sachs & Co. LLC disclosed dealings in Avadel Pharmaceuticals PLC under the Irish Takeover Panel rules. As of February 12, 2026, Goldman Sachs holds long positions of 304,226 shares (0.31%) and short positions of 122,479 shares (0.12%). The report includes details of various transactions, including purchases and sales of shares, and indicates that Goldman Sachs is an advisor to the offeree, Avadel Pharmaceuticals PLC. The disclosure was made on February 13, 2026." datetime: "2026-02-13T14:34:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/275915920.md) - [en](https://longbridge.com/en/news/275915920.md) - [zh-HK](https://longbridge.com/zh-HK/news/275915920.md) generator: "portal-rs" --- # REG - Goldman Sachs & Co. Avadel Pharma plc - Form 38.5b - Avadel Pharmaceuticals PLC RNS Number : 0046T Goldman Sachs & Co. LLC 13 February 2026 **FORM 38.5(b)** **IRISH TAKEOVER PANEL** **DISCLOSURE UNDER RULE 38.5(b) OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2013** **DEALINGS BY CONNECTED EXEMPT PRINCIPAL TRADERS WITHOUT RECOGNISED INTERMEDIARY STATUS, OR WITH RECOGNISED INTERMEDIARY STATUS BUT NOT DEALING IN A CLIENT-SERVING CAPACITY** **1\. KEY INFORMATION** Name of exempt principal trader GOLDMAN SACHS & CO. LLC Company dealt in AVADEL PHARMACEUTICALS PLC Class of relevant security to which the dealings being disclosed relate (Note1) USD 0.01 ordinary shares Date of dealing 12 February 2026 **2\. INTERESTS AND SHORT POSITIONS** **(a) Interests and short positions (following dealing) in the class of relevant security dealt in (Note 2)** Long Short Number (%) Number (%) (1) Relevant securities 304,226 (0.31) 122,479 (0.12) (2) Derivatives (other than options) 33,762 (0.03) 47,084 (0.04) (3) Options and agreements to purchase/sell 0 (0.00) 0 (0.00) Total 337,988 (0.34) 169,563 (0.17) **(b) Interests and short positions in relevant securities of the company, other than the class dealt in (Note 2)** Class of relevant security: Long Short Number (%) Number (%) (1) Relevant securities (2) Derivatives (other than options) (3) Options and agreements to purchase/sell Total 3\. DEALINGS (Note 3) **(a) Purchases and sales** Purchase/sale Number of relevant securities Price per unit (Note 4) Purchase (Borrow New) 1,200 N/A Sale (Borrow Full Return) 1,500 N/A Purchase (Borrow New) 127,000 N/A Sale (Borrow Full Return) 11,600 N/A Purchase (Borrow New) 12,500 N/A Sale (Borrow Full Return) 1,400 N/A Sale (Borrow Partial Return) 17,042 N/A Purchase (Borrow New) 6,300 N/A Purchase (Borrow New) 9,200 N/A Sale (Borrow Partial Return) 2,401 N/A Sale (Borrow Partial Return) 5,272 N/A **(b) Derivatives transactions (other than options transactions)** - Product name, e.g. CFD - Nature of transaction (Note 5) - Number of relevant securities (Note 6) - Price per unit (Note 4) **(c) Options transactions in respect of existing relevant securities** **(i) Writing, selling, purchasing or varying** - Product name,e.g. call option - Writing, selling, purchasing, varying etc. - Number of securities to which the option relates (Note 7) - Exercise price - Type, e.g. American, European etc. - Expiry date - Option money paid/received per unit (Note 4) **(ii) Exercising** - Product name,e.g. call option - Number of securities - Exercise price per unit (Note 4) **(d) Other dealings (including transactions in respect of new securities) (Note 3)** - Nature of transaction (Note 7) - Details - Price per unit (if applicable) (Note 4) **4\. OTHER INFORMATION** **Agreements, arrangements or understandings relating to options or derivatives** - Full details of any agreement, arrangement or understanding between the person disclosing and any other person relating to the voting rights of any relevant securities under any option referred to on this form or relating to the voting rights or future acquisition or disposal of any relevant securities to which any derivative referred to on this form is referenced. If none, this should be stated. - NONE Is a Supplemental Form 8 attached? (Note 9) YES Date of disclosure 13 February 2026 Contact name Papa Lette and Andrzej Szyszka Telephone number +33(1) 4212 1459 / +48(22) 317 4817 Name of offeree/offeror with which connected AVADEL PHARMACEUTICALS PLC Nature of connection (Note 9) Advisor to Offeree **SUPPLEMENTAL FORM 38.5(b)** **IRISH TAKEOVER PANEL** **DISCLOSURE UNDER RULE 38.5(b) OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER RULES, 2013** **DETAILS OF OPEN POSITIONS** **OPEN POSITIONS (Note 1)** Product name,e.g. call option Written or purchased Number of relevant securities to which the option or derivative relates Exercise price (Note 2) Type, e.g. American, European etc. Expiry date Swap Sold 84 0.0000 N/A 13/03/2026 Swap Purchased 33,762 0.0000 N/A 15/04/2026 Notes 1\. Where there are open option positions or open derivative positions (except for CFDs), full details should be given. Full details of any existing agreements to purchase or to sell must also be given on this form. 2\. For all prices and other monetary amounts, the currency must be stated. For full details of disclosure requirements, see Rules 8 and 38.5 of the Rules. If in doubt, consult the Panel. This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com. RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy. 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