Check the appropriate box to designate the
rule pursuant to which this Schedule is filed:
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the ACT but shall be subject to all other provisions of the Act (however, see the Notes).
1.
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Names of Reporting Persons.
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Brandes Investment Partners, L.P.
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I.R.S. Identification Nos. of above persons (entities only). 33-0704072
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2.
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Check the Appropriate Box if a Member of a Group (See Instructions)
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(a) ¨
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(b) ¨
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3.
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SEC Use Only
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4.
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Citizenship or Place of Organization
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Delaware
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Number of
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5.
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Sole Voting Power
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Shares Beneficially
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owned
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6.
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Shared Voting Power
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1,862,736 ADRs
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by Each
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Reporting
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7.
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Sole Dispositive Power
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Person With:
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8.
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Shared Dispositive Power
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2,961,878 ADRs
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9.
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Aggregate Amount Beneficially Owned by Each Reporting Person
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2,961,878 ADRs
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10.
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Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
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¨
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11.
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Percent of Class Represented by Amount in Row (9)
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5.08%
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12.
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Type of Reporting Person (See Instructions)
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IA, PN
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1.
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Names of Reporting Persons.
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CO-GP, LLC.
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I.R.S. Identification Nos. of above persons (entities only). 73-1677697
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2.
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Check the Appropriate Box if a Member of a Group (See Instructions)
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(a) ¨
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(b) ¨
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3.
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SEC Use Only
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4.
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Citizenship or Place of Organization
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Delaware
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Number of
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5.
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Sole Voting Power
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Shares Beneficially
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|
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owned
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6.
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Shared Voting Power
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1,862,736 ADRs
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by Each
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Reporting
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7.
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Sole Dispositive Power
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Person With:
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8.
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Shared Dispositive Power
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2,961,878 ADRs
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9.
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Aggregate Amount Beneficially Owned by Each Reporting Person
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2,961,878 ADR shares are deemed to be beneficially owned by CO-GP, LLC as a control
person of the investment adviser. CO-GP, LLC disclaims any direct ownership of the shares reported in this
Schedule 13G, except for an amount that is substantially less than one per cent of the number of shares reported herein.
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10.
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Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
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¨
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11.
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Percent of Class Represented by Amount in Row (9)
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5.08%
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12.
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Type of Reporting Person (See Instructions)
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CO, OO (Control Person)
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1.
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Names of Reporting Persons.
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Brandes Worldwide Holdings, L.P.
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I.R.S. Identification Nos. of above persons (entities only). 33-0836630
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2.
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Check the Appropriate Box if a Member of a Group (See Instructions)
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(a) ¨
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(b) ¨
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3.
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SEC Use Only
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4.
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Citizenship or Place of Organization
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Delaware
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Number of
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5.
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Sole Voting Power
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Shares Beneficially
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|
|
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owned
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6.
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Shared Voting Power
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1,862,736 ADRs
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by Each
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|
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Reporting
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7.
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Sole Dispositive Power
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Person With:
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8.
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Shared Dispositive Power
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2,961,878 ADRs
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|
|
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9.
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Aggregate Amount Beneficially Owned by Each Reporting Person
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2,961,878 ADR shares are deemed to be beneficially owned by Brandes Worldwide
Holdings, L.P., as a control person of the investment adviser. Brandes Worldwide Holdings, L.P. disclaims any
direct ownership of the shares reported in this Schedule 13G.
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10.
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Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
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¨
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11.
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Percent of Class Represented by Amount in Row (9)
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5.08%
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12.
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Type of Reporting Person (See Instructions)
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PN, OO (Control Person)
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1.
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Names of Reporting Persons.
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Glenn Carlson
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I.R.S. Identification Nos. of above persons (entities only).
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2.
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Check the Appropriate Box if a Member of a Group (See Instructions)
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(a) ¨
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(b) ¨
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3.
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SEC Use Only
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4.
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Citizenship or Place of Organization
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USA
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Number of
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5.
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Sole Voting Power
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Shares Beneficially
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|
|
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owned
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6.
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Shared Voting Power
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1,862,736 ADRs
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by Each
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Reporting
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7.
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Sole Dispositive Power
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Person With:
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|
|
|
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8.
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Shared Dispositive Power
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2,961,878 ADRs
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|
|
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9.
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Aggregate Amount Beneficially Owned by Each Reporting Person
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2,961,878 ADR shares are deemed to be beneficially owned by Glenn Carlson, a control person of the investment adviser. Mr. Carlson disclaims any direct ownership of the shares reported in Schedule 13G, except for the amount that is substantially less than one per cent of the number of shares reported herein.
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10.
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Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions)
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¨
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11.
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Percent of Class Represented by Amount in Row (9)
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5.08%
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12.
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Type of Reporting Person (See Instructions)
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IN, OO (Control Person)
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Item 1(a)
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Name of Issuer:
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Avadel Pharmaceuticals
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Item 1(b)
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Address of Issuer’s Principal Executive Offices:
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Block 10-1 Blanchardstown Corporate Park
Ballycoolin Dublin 15, Ireland
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Item 2(a)
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Name of Person Filing:
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(i) Brandes
Investment Partners, L.P.
(ii) CO-GP,
LLC
(iii) Brandes
Worldwide Holdings, L.P.
(iv) Glenn
Carlson
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Item 2(b)
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Address of Principal Business office or, if None, Residence:
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(i) 11988
El Camino Real, Suite 600, San Diego, CA 92130
(ii) 11988
El Camino Real, Suite 600, San Diego, CA 92130
(iii) 11988
El Camino Real, Suite 600, San Diego, CA 92130
(iv) 11988
El Camino Real, Suite 600, San Diego, CA 92130
(i) Delaware
(ii) Delaware
(iii) Delaware
(iv) USA
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Item 2(d)
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Title of Class Securities:
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American Depository Receipts and Common Shares
05337M104
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Item 3.
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If this statement is filed pursuant to §§ 240.13d-1(b), or 240.13d-2(b) or (c), check whether the person filing
is a:
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(a)
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¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).
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(b)
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¨ Bank
as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).
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(c)
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¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C.
78c).
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(d)
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¨ Investment company registered under section 8 of the Investment Company
Act (15 U.S.C. 80a-8).
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(e)
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¨ An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E).
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(f)
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¨ An
employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(ii)(F).
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(g)
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¨ A
parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G).
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(h)
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¨ A savings association as defined in Section 3(b) of the Federal
Deposit Insurance Act (12 U.S.C. 1813).
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(i)
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¨ A church plan that is excluded from the definition of an investment company
under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3).
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(j)
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þ Group, in accordance with § 240.13d-1(b)(1)(ii)(J).
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This statement is filed by Brandes Investment Partners,
L.P., an investment adviser registered under the Investment Advisers Act of 1940, its control persons and its holding company.
(See, also, Exhibit A.)
(a) Amount
Beneficially Owned: 2,961,878 ADRs
(b) Percent
of Class: 5.08%
(c) Number
of shares as to which the joint filers have:
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(i)
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sole power to vote or to direct the vote: 0
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(ii)
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shared power to vote or to direct the vote: 1,862,736 ADRs
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(iii)
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sole power to dispose or to direct the disposition of: 0
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|
|
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(iv)
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shared
power to dispose or to direct the disposition of: 2,961,878
ADRs
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Item 5.
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Ownership of Five Percent or Less of a Class.
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If
this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial
owner of more than five percent of the class securities, check the following ¨.
N/A
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Item 6.
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Ownership of More than Five Percent on Behalf of Another Person. N/A
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Item 7.
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Identification and Classification of the Subsidiary
Which Acquired the Security Being Reported on By the Parent Holding Company.
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N/A
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Item 8.
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Identification and Classification of Members of
the Group.
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See Exhibit A
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Item 9.
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Notice of Dissolution of Group.
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N/A
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(a)
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The following certification shall be included if the statement is filed pursuant to § 240.13d-1(b):
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By signing below I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired and held in the ordinary course of business and were not acquired and
are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were
not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is true, complete and correct.
Date: February 8, 2021
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BRANDES INVESTMENT PARTNERS, L.P.
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By:
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/s/ Ian Rose
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Ian Rose as Attorney-In-Fact for
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Glenn Carlson, General Partner
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Co-GP, LLC its General Partner
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CO-GP, LLC
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By:
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/s/ Ian Rose
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Ian Rose as Attorney-In-Fact for
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Glenn Carlson, General Partner
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BRANDES WORLDWIDE HOLDINGS, L.P.
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By:
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/s/ Ian Rose
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Ian Rose as Attorney-In-Fact for
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Glenn Carlson of Co-GP, LLC its General Partner
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By:
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/s/ Ian Rose
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Ian Rose as Attorney-In-Fact for
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Glenn Carlson, Control Person
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EXHIBIT A
Identification and Classification
of Members of the Group
Pursuant to Rule 13d-1(b)(ii)(J) and Rule 13d-1(k)(1) under
the Securities and Exchange Act of 1934, the members of the group making this joint filing are identified and classified as follows:
Name
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Classification
|
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Brandes Investment Partners, L.P. (the “Investment Adviser”)
|
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Investment adviser registered under Investment Advisers Act of 1940
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Co-GP, LLC
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A control person of the Investment Adviser
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Brandes Worldwide Holdings, L.P.
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A control person of the Investment Adviser
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Glenn Carlson
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A control person of the Investment Adviser
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EXHIBIT B
Joint Filing Agreement Pursuant to
Rule 13d-1
This agreement is made pursuant to Rule 13d-1(b)(ii)(J) and
Rule 13d-1(k)(1) under the Securities and Exchange Act of 1934 (the “Act”) by and among the parties listed
below, each referred to herein as a “Joint Filer.” The Joint Filers agree that a statement of beneficial ownership
as required by Sections 13(g) or 13(d) of the Act and the Rules thereunder may be filed on each of their behalf
on Schedule 13G or Schedule 13D, as appropriate, and that said joint filing may thereafter be amended by further joint filings.
The Joint Filers state that they each satisfy the requirements for making a joint filing under Rule 13d-1.
Dated: February 8, 2021
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BRANDES INVESTMENT PARTNERS, L.P.
|
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By:
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/s/ Glenn Carlson
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Glenn Carlson, General Partner of Co-GP, LLC.
|
|
|
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Co-GP, LLC.
|
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By:
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/s/ Glenn Carlson
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Glenn Carlson, General Partner
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EXHIBIT C
Power of Attorney for Schedules 13D,
13G and Form 13F
I, Glenn Carlson, as member of Co-GP of LLC., which is a General
Partner of Brandes Worldwide Holdings, L.P., and which is also the limited partner of Brandes Investment Partners, L.P., hereby
appoint Ian N. Rose as attorney-in-fact and agent, in all capacities, to execute, on my behalf and on behalf of of Co-GP LLC.,
Brandes Investment Partners, L.P., and Brandes Worldwide Holdings, L.P., to file with the appropriate issuers, exchanges and regulatory
authorities, any and all Schedules 13D, 13G and Form 13F and documents relating thereto required to be filed under the Securities
and Exchange Act of 1934, including exhibits, attachments and amendments thereto and request for confidential treatment of information
contained therein in connection with my being a “control person” (as contemplated for purposes of Schedule 13D, 13G
and Form 13F) of Brandes Investment Partners, L.P., its subsidiaries and affiliates. I hereby grant to said attorneys-in-fact
full authority to do every act necessary to be done in order to effectuate the same as fully, to all intents and purposes, as I
could if personally present, thereby ratifying all that said attorneys-in-fact and agents may lawfully do or cause to be done by
virtue hereof.
I hereby execute this Power of Attorney as of this 8th day of
February 2021.
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/s/Glenn Carlson
|
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Glenn Carlson
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EXHIBIT D
Disclaimer of Beneficial Ownership
Co-GP, LLC, Brandes Worldwide Holdings, L.P., Glenn Carlson,
and Jeff Busby disclaim beneficial interest as to the shares referenced above, except for an amount equal to substantially less
than one percent of the shares reported on this Schedule 13D. None of these entities or individuals holds the above-referenced
shares for its/his own account except on a de minimis basis.
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/s/Glenn
Carlson
|
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Glenn Carlson
|
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/s/Jeff Busby
|
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Jeff Busby
|