On December 31, 2023, Armistice Capital, LLC and its managing member Steven Boyd filed a Schedule 13G with the United States Securities and Exchange Commission, disclosing a 9.99% ownership stake in Adial Pharmaceuticals, Inc. This stake amounts to 166,972 shares in the company's common stock. The filing indicates that Armistice Capital, as the investment manager of Armistice Capital Master Fund Ltd., exercises voting and investment power over the securities held by the Master Fund. Consequently, both Armistice Capital and Steven Boyd may be deemed to beneficially own the securities of Adial Pharmaceuticals held by the Master Fund. The Master Fund, however, disclaims beneficial ownership of these securities due to its Investment Management Agreement with Armistice Capital, which limits its ability to vote or dispose...Show More

On December 31, 2023, Armistice Capital, LLC and its managing member Steven Boyd filed a Schedule 13G with the United States Securities and Exchange Commission, disclosing a 9.99% ownership stake in Adial Pharmaceuticals, Inc. This stake amounts to 166,972 shares in the company's common stock. The filing indicates that Armistice Capital, as the investment manager of Armistice Capital Master Fund Ltd., exercises voting and investment power over the securities held by the Master Fund. Consequently, both Armistice Capital and Steven Boyd may be deemed to beneficially own the securities of Adial Pharmaceuticals held by the Master Fund. The Master Fund, however, disclaims beneficial ownership of these securities due to its Investment Management Agreement with Armistice Capital, which limits its ability to vote or dispose of the securities. The filing was made in accordance with Rule 13d-1(b) of the Securities Exchange Act of 1934, which applies to certain investment advisers and parent holding companies. The report emphasizes that the shares were acquired in the ordinary course of business and not for the purpose of changing or influencing the control of Adial Pharmaceuticals.