[SCHEDULE 13G] Avadel Pharmaceuticals plc Ordinary Share SEC Filing

Rhea-AI Filing Summary

The Vanguard Group filed a Schedule 13G revealing a 5.74 % beneficial ownership in Avadel Pharmaceuticals plc (AVDL) as of 30 June 2025. Vanguard controls 5,564,259 ordinary shares, crossing the 5 % reporting threshold. While the firm holds no sole voting power, it has shared voting authority over 107,614 shares. Dispositive authority is predominantly sole—5,361,014 shares—with shared dispositive power on another 203,245 shares. Filed under Rule 13d-1(b) as an investment adviser (Type IA), the stake is declared passive and acquired in the ordinary course of business. Vanguard’s clients retain economic rights to dividends and sale proceeds. The disclosure increases Avadel’s institutional ownership profile, potentially improving liquidity and market visibility without signaling an intent to influence corporate control.

Positive

• Vanguard Group's 5.74 % stake adds a globally recognised, low-cost asset manager to AVDL's register, enhancing liquidity and credibility.
• Sole dispositive authority over 5.36 m shares reduces settlement risk and potential share-supply overhang.

Negative

• No sole voting power limits Vanguard’s ability to unilaterally support management initiatives or fend off hostile proposals.

Insights

Buy-side Portfolio Manager

TL;DR – Passive 5.7 % Vanguard stake lifts institutional profile; limited voting clout keeps governance impact muted.

Vanguard’s 5.74 % holding brings a large, low-turnover shareholder onto Avadel’s register, a constructive signal for liquidity and valuation. Because Vanguard reports zero sole voting power and minimal shared votes, it is unlikely to push strategic change. The sole dispositive control over 5.36 m shares means the position can be rebalanced without coordination delays, reducing overhang risk. Overall market effect: modestly positive, especially for small-mid cap biotech names where incremental passive ownership can compress the cost of capital.

Corporate Governance Specialist

TL;DR – Governance impact neutral; passive filing signals compliance not activism.

The filing under 13d-1(b) confirms a passive stance. Vanguard’s lack of sole voting power suggests it will follow internal proxy guidelines rather than engage directly. Management should not expect activist involvement, but the firm’s stewardship team may still influence ESG or compensation proposals through shared votes. From a control-perspective, nothing changes; however, a concentrated passive bloc can stabilize the shareholder base ahead of capital raises or strategic reviews.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

Avadel Pharmaceuticals PLC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

G29687103

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. G29687103

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 107,614.00
7	Sole Dispositive Power 5,361,014.00
8	Shared Dispositive Power 203,245.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

5,564,259.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

5.74 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: Avadel Pharmaceuticals PLC
(b)	Address of issuer's principal executive offices: Block 10-1, Blanchardstown, Corporate Park, Ballycoolin, Dublin, L2, D15
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd., Malvern, PA 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: G29687103
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 5564259
(b)	Percent of class: 5.74 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 107614
	(iii) Sole power to dispose or to direct the disposition of: 5361014
	(iv) Shared power to dispose or to direct the disposition of: 203245
Item 5.	Ownership of 5 Percent or Less of a Class.
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	07/29/2025

FAQ

What percentage of Avadel Pharmaceuticals (AVDL) does Vanguard now own?

Vanguard reports beneficial ownership of 5.74 % of AVDL’s outstanding common stock.

How many Avadel shares are disclosed in Vanguard's Schedule 13G?

The filing lists 5,564,259 ordinary shares under Vanguard’s beneficial ownership.

Does Vanguard have voting power over its AVDL shares?

It has 0 shares with sole voting power and 107,614 shares with shared voting power.

What is the difference between voting and dispositive power in this filing?

Voting power concerns proxy decisions; dispositive power relates to the right to sell. Vanguard has sole dispositive power on 5,361,014 shares but no sole voting rights.

Why did Vanguard file this Schedule 13G for Avadel?

Crossing the 5 % ownership threshold triggers a Schedule 13G disclosure for passive investment advisers under SEC rules.

When was Vanguard’s ownership position effective and when was the document signed?

The ownership was effective 30 Jun 2025; the filing was signed on 29 Jul 2025 by Ashley Grim.