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424B5: Prospectus

SEC ·  Apr 19, 2024 05:33

Summary by Moomoo AI

Adial Pharmaceuticals, Inc. has entered into an At The Market Offering Agreement with H.C. Wainwright & Co., LLC, dated April 18, 2024, for the sale of common stock shares with an aggregate offering price of up to $4,283,650. The sales may be made through Wainwright acting as an agent or principal, and will be conducted as an 'at the market offering' as defined in Rule 415(a)(4) under the Securities Act of 1933. The sales agreement allows for the sale of shares directly on or through the Nasdaq Stock Market or any other existing trading market in the United States. Wainwright will receive a fixed commission rate of 3.0% of the gross sales price per share sold under the agreement. Adial Pharmaceuticals has agreed to indemnify...Show More
Adial Pharmaceuticals, Inc. has entered into an At The Market Offering Agreement with H.C. Wainwright & Co., LLC, dated April 18, 2024, for the sale of common stock shares with an aggregate offering price of up to $4,283,650. The sales may be made through Wainwright acting as an agent or principal, and will be conducted as an 'at the market offering' as defined in Rule 415(a)(4) under the Securities Act of 1933. The sales agreement allows for the sale of shares directly on or through the Nasdaq Stock Market or any other existing trading market in the United States. Wainwright will receive a fixed commission rate of 3.0% of the gross sales price per share sold under the agreement. Adial Pharmaceuticals has agreed to indemnify Wainwright against certain liabilities, including under the Securities Act. As of the date of the prospectus supplement, the aggregate market value of Adial's outstanding common stock held by non-affiliates is $12,850,953, based on the closing price of $3.26 per share on March 1, 2024. The company's common stock is listed on the Nasdaq Capital Market under the symbol 'ADIL.' Investing in Adial's common stock involves a high degree of risk, and potential investors are advised to read the 'Risk Factors' section in the prospectus supplement.

This announcement is a separate document:

Doc 1

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