Form 8.3

LONDON--(BUSINESS WIRE)-- 

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FORM 8.3

IRISH TAKEOVER PANEL

OPENING POSITION DISCLOSURE/DEALING DISCLOSURE UNDER RULE 8.3 OF THE IRISH TAKEOVER PANEL ACT, 1997, TAKEOVER

RULES, 2022 BY PERSONS WITH INTERESTS IN RELEVANT SECURITIES REPRESENTING 1% OR MORE

1. KEY INFORMATION

(a) Full name of discloser	Balyasny Asset Management L.P.
(b) Owner or controller of interests and short positions disclosed, if different from 1(a) The naming of nominee or vehicle companies is insufficient. For a trust, the trustee(s), settlor and beneficiaries must be named.
(c) Name of offeror/offeree in relation to whose relevant securities this form relates Use a separate form for each offeror/offeree	Avadel Pharmaceuticals plc
(d) If an exempt fund manager connected with an offeror/offeree, state this and specify identity of offeror/offeree (Note 1)
(e) Date position held/dealing undertaken For an opening position disclosure, state the latest practicable date prior to the disclosure	03/12/2025
(f) In addition to the company in 1(c) above, is the discloser also making disclosures in respect of any other party to the offer? If it is a cash offer or possible cash offer, state “N/A”	N/A

2. INTERESTS AND SHORT POSITIONS

If there are interests and short positions to disclose in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 2 for each additional class of relevant security.

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Interests and short positions in the relevant securities of the offeror or offeree to which the disclosure relates following the dealing (if any)

(Note 2)

Class of relevant security (Note 3)	$0.01 ordinary shares   ISIN: IE00BDGMC594
	Interests		Short positions
	Number	%	Number	%
(1) Relevant securities owned and/or controlled	1,785,306	1.82
(2) Cash-settled derivatives
(3) Stock-settled derivatives (including options) and agreements to purchase/ sell
Total	1,785,306	1.82

All interests and all short positions should be disclosed.

Details of options including rights to subscribe for new securities and any open stock-settled derivative positions (including traded options), or agreements to purchase or sell relevant securities, should be given on a Supplemental Form 8.

3. DEALINGS (IF ANY) BY THE PERSON MAKING THE DISCLOSURE (Note 4)

Where there have been dealings in more than one class of relevant securities of the offeror or offeree named in 1(c), copy table 3(a), (b), (c) or (d) (as appropriate) for each additional class of relevant security dealt in.

The currency of all prices and other monetary amounts should be stated.

(a) Purchases and sales

Class of relevant security	Purchase/sale	Number of securities	Price per unit (Note 5)
$ Common Stock	Purchase	12	USD 21.37
$ Common Stock	Sale	484	USD 21.37
$ Common Stock	Purchase	200	USD 21.4
$ Common Stock	Sale	330	USD 21.36
$ Common Stock	Sale	1	USD 21.38
$ Common Stock	Sale	1,197	USD 21.36
$ Common Stock	Sale	343	USD 21.36
$ Common Stock	Sale	463	USD 21.36
$ Common Stock	Sale	438	USD 21.36
$ Common Stock	Sale	16	USD 21.38
$ Common Stock	Sale	311	USD 21.36
$ Common Stock	Sale	439	USD 21.38
$ Common Stock	Sale	1,310	USD 21.36
$ Common Stock	Sale	558	USD 21.36
$ Common Stock	Sale	298	USD 21.38
$ Common Stock	Sale	907	USD 21.36
$ Common Stock	Sale	99	USD 21.36
$ Common Stock	Sale	26	USD 21.36
$ Common Stock	Sale	235	USD 21.36
$ Common Stock	Sale	2,062	USD 21.38
$ Common Stock	Sale	3,937	USD 21.36
$ Common Stock	Sale	873	USD 21.36
$ Common Stock	Sale	290	USD 21.36
$ Common Stock	Sale	163	USD 21.37
$ Common Stock	Sale	300	USD 21.37
$ Common Stock	Sale	58	USD 21.36
$ Common Stock	Sale	114	USD 21.4
$ Common Stock	Sale	135	USD 21.38
$ Common Stock	Sale	1,077	USD 21.37
$ Common Stock	Sale	1,561	USD 21.36
$ Common Stock	Sale	197	USD 21.36
$ Common Stock	Sale	2,519	USD 21.36
$ Common Stock	Sale	207	USD 21.36
$ Common Stock	Sale	100	USD 21.38
$ Common Stock	Sale	358	USD 21.36
$ Common Stock	Sale	400	USD 21.38
$ Common Stock	Sale	1	USD 21.39
$ Common Stock	Sale	425	USD 21.38
$ Common Stock	Sale	835	USD 21.36
$ Common Stock	Sale	191	USD 21.37
$ Common Stock	Sale	76	USD 21.36
$ Common Stock	Sale	295	USD 21.4
$ Common Stock	Sale	834	USD 21.4
$ Common Stock	Sale	204	USD 21.36
$ Common Stock	Sale	667	USD 21.36
$ Common Stock	Sale	144	USD 21.37
$ Common Stock	Purchase	168	USD 21.36
$ Common Stock	Sale	148	USD 21.36
$ Common Stock	Sale	468	USD 21.38
$ Common Stock	Sale	1,163	USD 21.36
$ Common Stock	Sale	678	USD 21.36
$ Common Stock	Sale	703	USD 21.36
$ Common Stock	Sale	42	USD 21.36
$ Common Stock	Sale	656	USD 21.36
$ Common Stock	Sale	6,023	USD 21.36
$ Common Stock	Sale	2,578	USD 21.35
$ Common Stock	Sale	1,077	USD 21.36
$ Common Stock	Sale	22,720	USD 21.36
$ Common Stock	Sale	649	USD 21.36
$ Common Stock	Sale	705	USD 21.36
$ Common Stock	Sale	345	USD 21.36
$ Common Stock	Purchase	1,001	USD 21.37
$ Common Stock	Sale	286	USD 21.37
$ Common Stock	Sale	62	USD 21.36
$ Common Stock	Sale	1	USD 21.36
$ Common Stock	Sale	371	USD 21.38
$ Common Stock	Purchase	47	USD 21.38
$ Common Stock	Sale	131	USD 21.37
$ Common Stock	Sale	103	USD 21.36
$ Common Stock	Sale	1,300	USD 21.36
$ Common Stock	Sale	917	USD 21.36

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(b) Cash-settled derivative transactions

Class ofrelevantsecurity

Product description e.g. CFD

Nature of dealinge.g. opening/ closing a long/ short position, increasing/ reducing a long/ short position

Number ofreference securities (Note 6)

Price per unit (Note 5)

(c) Stock-settled derivative transactions (including options)

(i) Writing, selling, purchasing or varying

Class of relevant security

Product description e.g. call option

Writing, purchasing, selling, varying etc.

Number of securities to which option relates (Note 6)

Exerciseprice per unit

Type e.g. American, Europeanetc.

Expiry date

Option moneypaid/ received per unit

(ii) Exercise

Class of relevant security

Product description e.g. call option

Exercising/ exercised against

Number of securities

Exercise price per unit (Note 5)

(d) Other dealings (including transactions in respect of new securities) (Note 3)

Class of relevant security

Nature of dealing e.g. subscription, conversion, exercise

Details

Price per unit (if applicable) (Note 5)

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4. OTHER INFORMATION

(a) Indemnity and other dealing arrangements

Details of any indemnity or option arrangement, or any agreement or understanding, formal or informal, relating to relevant securities which may be an inducement to deal or refrain from dealing entered into by the person making the disclosure and any party to the offer or any person acting in concert with a party to the offer. Irrevocable commitments and letters of intent should not be included. If there are no such agreements, arrangements or understandings, state “none”

(b) 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.

(c) Attachments

Is a Supplemental Form 8 attached?

NO

Date of disclosure	04/12/2025
Contact name	Jack Satt
Telephone number	[phone]

Public disclosures under Rule 8.3 of the Rules must be made to a Regulatory Information Service.

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NOTES ON FORM 8.3

1. See the definition of “connected fund manager” in Rule 2.2 of Part A of the Rules.

2. See the definition of “interest in a relevant security” in Rule 2.5 of Part A of the Rules and see Rule 8.6(a) and (b) of Part B of the Rules.

3. See the definition of “relevant securities” in Rule 2.1 of Part A of the Rules.

4. See the definition of “dealing” in Rule 2.1 of Part A of the Rules.

5. If the economic exposure to changes in the price of securities is limited, for example, by virtue of a stop loss arrangement relating to a spread bet, full details must be given.

6. See Rule 2.5(d) of Part A of the Rules.

7. If details included in a disclosure under Rule 8 are incorrect, they should be corrected as soon as practicable in a subsequent disclosure. Such disclosure should state clearly that it corrects details disclosed previously, identify the disclosure or disclosures being corrected, and provide sufficient detail for the reader to understand the nature of the corrections. In the case of any doubt, the Panel should be consulted.

For full details of disclosure requirements, see Rule 8 of the Rules. If in doubt, consult the Panel.

References in these notes to “the Rules” are to the Irish Takeover Panel Act, 1997, Takeover Rules, 2022.