On December 13, 2024, Adial Pharmaceuticals entered into a Purchase Agreement with Alumni Capital LP, allowing the company to sell up to $5M of newly issued common stock, expandable to $10M. The agreement runs until December 31, 2026, or until the full amount is purchased.The purchase price per share is set at 97% of the lowest daily volume-weighted average price over a 3-day period, with a minimum price of $0.55. Adial retains control over the timing and amount of sales. The agreement includes an Exchange Cap of 1,280,515 shares (19.99% of outstanding shares) unless stockholder approval is obtained.As consideration, Adial issued 68,807 commitment shares to Alumni Capital. The company plans to use the proceeds for strategic opportunities, increasing staff, and working capital. The shares will be offered under Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D.

On December 13, 2024, Adial Pharmaceuticals entered into a Purchase Agreement with Alumni Capital LP, allowing the company to sell up to $5M of newly issued common stock, expandable to $10M. The agreement runs until December 31, 2026, or until the full amount is purchased.The purchase price per share is set at 97% of the lowest daily volume-weighted average price over a 3-day period, with a minimum price of $0.55. Adial retains control over the timing and amount of sales. The agreement includes an Exchange Cap of 1,280,515 shares (19.99% of outstanding shares) unless stockholder approval is obtained.As consideration, Adial issued 68,807 commitment shares to Alumni Capital. The company plans to use the proceeds for strategic opportunities, increasing staff, and working capital. The shares will be offered under Section 4(a)(2) of the Securities Act and Rule 506(b) of Regulation D.