Summary by Moomoo AI
On April 18, 2024, Adial Pharmaceuticals, Inc. announced the entry into an At the Market Offering Agreement with H.C. Wainwright & Co., LLC, enabling the sale of its common stock from time to time. The agreement allows for sales through a prospectus supplement and an accompanying base prospectus, which are part of a shelf registration statement declared effective by the SEC on January 24, 2024. The total market value of the common stock available for sale is approximately $4.28 million, subject to certain limitations. Sales may occur on the Nasdaq or other trading markets, and the Sales Agent may also conduct sales in privately negotiated transactions with the company's approval. Adial Pharmaceuticals will pay a 3.0% commission on gross proceeds to the Sales Agent and reimburse certain expenses. The offering will continue until all shares are sold or the agreement is terminated.