Adial Pharmaceuticals Announces a Warrant Inducement Transaction for $2.75 Million in Gross Proceeds

GLEN ALLEN, Va., May 02, 2025 (GLOBE NEWSWIRE) --  Adial Pharmaceuticals, Inc. (NASDAQ: ADIL) (“Adial” or the “Company”), a clinical-stage biopharmaceutical company focused on developing therapies for the treatment and prevention of addiction and related disorders, today announced its entry into a warrant inducement agreement with an existing healthcare-focused institutional investor of the Company for the immediate exercise of existing Series B Warrants (the "Series B Warrants") to purchase up to 1,418,440 shares of the Company’s common stock, par value $0.001 per share (the “Common Stock”), and Series C Warrants (the "Series C Warrants", and together with the Series B Warrants the "Existing Warrants") to purchase up to 2,300,000 shares of Common Stock at a reduced exercise price of $0.74 for gross cash proceeds of approximately $2.75 million, before deducting financial advisor fees and other transaction expenses. The Company intends to use the net proceeds from the offering for working capital and other general corporate purposes.