Avadel Pharmaceuticals’ $143.7 Million Exchangeable Senior Notes Offering


Davis Polk advised the initial purchasers on a Rule 144A offering by Avadel Finance Cayman Limited, a wholly owned subsidiary of Avadel Pharmaceuticals plc, of $143.7 million aggregate principal amount of its 4.50% exchangeable senior notes due 2023.

Leerink Partners LLC is acting as the lead book-running manager for the offering. SunTrust Robinson Humphrey, Inc. is acting as passive bookrunner. T.R. Winston & Company, LLC is acting as co-manager.

Headquartered in Dublin, Ireland, Avadel Pharmaceuticals plc is a branded specialty pharmaceutical company committed to providing solutions for overlooked and unmet medical needs through patient-focused, innovative products.

The Davis Polk capital markets team included partner Sophia Hudson (Picture) and associate Roohi Gupte. The Davis Polk equity derivatives team included partner John M. Brandow and associate Mark J. DiFiore. The tax team included partner Po Sit and associate Gil Savir. Counsel David R. Bauer and associates Paul S. Lee and Tilak Koilvaram provided intellectual property and technology advice.

Involved fees earner: Sophia Hudson – Davis Polk & Wardwell; Roohi Gupte – Davis Polk & Wardwell; John Brandow – Davis Polk & Wardwell; Mark DiFiore – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; Gil Savir – Davis Polk & Wardwell; David Bauer – Davis Polk & Wardwell; Paul Lee – Davis Polk & Wardwell; Tilak Koilvaram – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: SunTrust Robinson Humphrey, Inc.; Leerink Partners; T.R. Winston & Company;

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Author: Ambrogio Visconti