Avadel Pharma ordinary shares to leave Nasdaq

Avadel Pharmaceuticals plc has had its ordinary shares targeted for removal from listing and/or registration on the Nasdaq Stock Market LLC under Section 12(b) of the Securities Exchange Act of 1934.

Rhea-AI Filing Summary

Avadel Pharmaceuticals plc has had its ordinary shares targeted for removal from listing and/or registration on the Nasdaq Stock Market LLC under Section 12(b) of the Securities Exchange Act of 1934. Nasdaq filed Form 25, certifying compliance with its rules for striking this class of securities from listing.

Positive

• None.

Negative

• Removal from Nasdaq listing: Avadel Pharmaceuticals plc ordinary shares are being removed from listing and/or registration on the Nasdaq Stock Market LLC under Section 12(b), which can reduce trading visibility and liquidity.

Insights

Equity markets and listing standards analyst

Nasdaq has initiated removal of Avadel’s ordinary shares from listing.

The notification states that Avadel Pharmaceuticals plc ordinary shares are being removed from listing and/or registration on the Nasdaq Stock Market LLC under Section 12(b) of the Exchange Act via Form 25. Nasdaq certifies it has complied with its own rules for striking the class of securities.

Removal from a major exchange typically affects trading visibility and liquidity because the security no longer trades on that venue. The filing references both exchange-initiated and issuer-compliance provisions, but the excerpt mainly confirms Nasdaq’s certification that requirements for a Form 25 filing have been met.

Subsequent disclosures in company communications or other regulatory filings would usually describe where the shares may trade afterward and any alternative listing venues or quotation systems, which can influence how easily investors can continue to buy or sell the stock.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What does Avadel Pharmaceuticals plc’s Form 25 filing mean for AVDL shares?

The Form 25 indicates Avadel’s ordinary shares are being removed from Nasdaq listing and/or registration under Section 12(b). This typically means the shares will no longer trade on Nasdaq, which can affect liquidity and investor access to the stock.

Which securities of Avadel Pharmaceuticals plc are affected by this Nasdaq action?

The action specifically concerns Avadel Pharmaceuticals plc’s ordinary shares. Nasdaq’s Form 25 notification covers removal of this class of securities from listing and/or registration under Section 12(b) of the Securities Exchange Act of 1934 on the Nasdaq Stock Market LLC.

Who filed the notification to remove Avadel Pharmaceuticals from Nasdaq?

The notification is filed by Nasdaq Stock Market LLC. Nasdaq certifies it has reasonable grounds to believe it meets all requirements for filing Form 25 and has complied with its own rules for striking Avadel’s ordinary shares from listing and/or registration.

Under what legal authority are Avadel’s ordinary shares being removed from Nasdaq?

The removal proceeds under Section 12(b) of the Securities Exchange Act of 1934 and related rules, including 17 CFR 240.12d2-2. These provisions govern delisting and deregistration of securities from national securities exchanges such as Nasdaq.

Does the filing state that Avadel complied with exchange withdrawal requirements?

Yes. The content references 17 CFR 240.12d2-2(c), stating the issuer has complied with exchange rules and the rule’s requirements governing voluntary withdrawal of the class of securities from listing and registration, alongside Nasdaq’s own certification of compliance for filing Form 25.

Who signed the Nasdaq notification related to Avadel Pharmaceuticals plc?

The notification is signed on behalf of Nasdaq Stock Market LLC by Tara Petta, identified as a Director. The signature certifies Nasdaq has reasonable grounds to believe it meets all requirements for filing the Form 25 for Avadel’s ordinary shares.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/12/2026 - 09:53 AM Learn about SEC filing dates

UNITED STATES

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SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 25

NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION
UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

Commission File Number

001-37977

Issuer:	AVADEL PHARMACEUTICALS PLC
Exchange:	Nasdaq Stock Market LLC

(Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered)

Address:	Parc Club du Moulin a Vent
	33 ave du Docteur Georges Levy
	Venissieux Cedex	FRANCE	69693
Telephone number:					33 4 7278 3434

(Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)

Ordinary Share

(Description of class of securities)

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

17 CFR 240.12d2-2(a)(1)

17 CFR 240.12d2-2(a)(2)

17 CFR 240.12d2-2(a)(3)

17 CFR 240.12d2-2(a)(4)

Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange. ¹

Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

Pursuant to the requirements fo the Securities Exchange Act of 1934, Nasdaq Stock Market LLC certifies that it has reasonable grounds to believe that it meets all of the requirements for filing the Form 25 and has caused this notification to be signed on its behalf by the undersigned duly authorized person.

2026-02-12	By	Tara Petta		Director
Date		Name		Title

¹ Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR 240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.