Zürcher Kantonalbank Discloses Position in Avadel Pharmaceuticals

On November 20, 2025, Zürcher Kantonalbank filed a Form 8.3 disclosing its position in Avadel Pharmaceuticals plc. This disclosure is in compliance with the Irish Takeover Panel Act, 1997, as amended by the Takeover Rules, 2022. The bank and its subsidiaries reported a small interest in Avadel's ordinary shares, owning and controlling 37,707 shares, representing a 0.04% stake.

The bank's disclosure specifies no involvement with other parties in connection to Avadel. No additional positions in derivatives or options have been reported. Furthermore, significant collateral title transfers involving -908,440 and -196,906 units of ordinary shares are noted without specifying a monetary price per unit.

The filing clarifies there are no inducement agreements, dealings, or arrangements regarding voting rights or future securities acquisitions or disposals. A Supplemental Form 8, which could provide further details, was not attached to this disclosure.