AVADEL PHARMACEUTICALS PLC — Director's Dealing 2017

Jan 6, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AVADEL PHARMACEUTICALS PLC (AVDL)
CIK: 0001012477
Period of Report: 2017-01-03

Reporting Person: Broadfin Healthcare Master Fund Ltd (10% Owner)
Reporting Person: KOTLER KEVIN (10% Owner)
Reporting Person: Broadfin Capital, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-01-03	Ordinary Shares	D	4394464	—	Disposed	0	Direct

Footnotes

F1: On December 31, 2016, Flamel Technologies S.A. ("Flamel") merged with and into the Issuer. As a result, Flamel's outstanding Ordinary Shares were canceled and exchanged on a 1:1 basis for newly issued ordinary shares of the Issuer. The reporting persons are filing this Form 4 solely to report dispositions of Flamel Ordinary Shares as a result of the merger. The reporting persons have made no market sales or purchases in connection with the dispositions reported in this Form 4.

F2: The Ordinary Shares are held in the account of Broadfin Healthcare Master Fund, Ltd., a private investment fund managed by Broadfin Capital, LLC and may be deemed to be beneficially owned by Kevin Kotler, managing member of Broadfin Capital, LLC. Each of Broadfin Capital, LLC, Broadfin Healthcare Master Fund, Ltd. and Kevin Kotler disclaim beneficial ownership of the reported securities except to the extent of his or its pecuniary interest therein, and affirmatively disclaim being a "group" for purposes of Section 16 of the Securities Exchange Act of 1934, as amended.