<SEC-DOCUMENT>0001315863-25-000606.txt : 20250813
<SEC-HEADER>0001315863-25-000606.hdr.sgml : 20250813
<ACCEPTANCE-DATETIME>20250813174143
ACCESSION NUMBER:		0001315863-25-000606
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20250813
DATE AS OF CHANGE:		20250813

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			AVADEL PHARMACEUTICALS PLC
		CENTRAL INDEX KEY:			0001012477
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-50223
		FILM NUMBER:		251213227

	BUSINESS ADDRESS:	
		STREET 1:		BLOCK 10-1 BLANCHARDSTOWN CORPORATE PARK
		STREET 2:		BALLYCOOLIN
		CITY:			DUBLIN
		STATE:			L2
		ZIP:			15
		BUSINESS PHONE:		636-449-1830

	MAIL ADDRESS:	
		STREET 1:		16640 CHESTERFIELD GROVE ROAD
		STREET 2:		SUITE 200
		CITY:			CHESTERFIELD
		STATE:			MO
		ZIP:			63005

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	FLAMEL TECHNOLOGIES SA
		DATE OF NAME CHANGE:	19960422

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Two Seas Capital LP
		CENTRAL INDEX KEY:			0001823138
		ORGANIZATION NAME:           	
		EIN:				843799363
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		32 ELM PLACE, 3RD FLOOR
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		917.536.6028

	MAIL ADDRESS:	
		STREET 1:		32 ELM PLACE, 3RD FLOOR
		CITY:			RYE
		STATE:			NY
		ZIP:			10580

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Kairos Capital Management LP
		DATE OF NAME CHANGE:	20200831
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
<headerData>
<submissionType>SCHEDULE 13G/A</submissionType>
<previousAccessionNumber>0001315863-25-000390</previousAccessionNumber>
<filerInfo>
<filer>
<filerCredentials>
<cik>0001823138</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>



</filerInfo>
</headerData>
<formData>
<coverPageHeader>
<amendmentNo>1</amendmentNo>
<securitiesClassTitle>Ordinary Shares, nominal value $0.01 per share</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>06/30/2025</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0001012477</issuerCik>
<issuerName>Avadel Pharmaceuticals plc</issuerName>
<issuerCusip>G29687103</issuerCusip>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>10 Earlsfort Terrace</com:street1>
<com:city>Dublin 2</com:city>
<com:stateOrCountry>L2</com:stateOrCountry>
<com:zipCode>D02 T380</com:zipCode>
</issuerPrincipalExecutiveOfficeAddress>
</issuerInfo>
<designateRulesPursuantThisScheduleFiled>
<designateRulePursuantThisScheduleFiled>Rule 13d-1(b)</designateRulePursuantThisScheduleFiled>
</designateRulesPursuantThisScheduleFiled>
</coverPageHeader>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Two Seas Capital LP</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>6155074</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>6155074</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>6155074</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>6.4</classPercent>
<typeOfReportingPerson>IA</typeOfReportingPerson>
<typeOfReportingPerson>PN</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Two Seas Capital GP LLC</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>6155074</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>6155074</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>6155074</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>6.4</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
<typeOfReportingPerson>HC</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Sina Toussi</reportingPersonName>
<citizenshipOrOrganization>X1</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>6155074</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>6155074</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>6155074</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>6.4</classPercent>
<typeOfReportingPerson>IN</typeOfReportingPerson>
<typeOfReportingPerson>HC</typeOfReportingPerson>
</coverPageHeaderReportingPersonDetails>
<items>
<item1>
<issuerName>Avadel Pharmaceuticals plc</issuerName>
<issuerPrincipalExecutiveOfficeAddress>10 Earlsfort Terrace, Dublin 2, Ireland, D02 T380</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>The Statement is filed on behalf of each of the following persons (collectively, the "Reporting Persons")&#13;
&#13;
(i)	Two Seas Capital LP ("TSC");&#13;
(ii)	Two Seas Capital GP LLC ("TSC GP"); and&#13;
(iii)	Sina Toussi.&#13;
&#13;
This statement relates to Ordinary Shares, nominal value $0.01 per share (the "Shares"), held by Two Seas Global (Master) Fund LP (the "Global Fund"). The principal business of TSC is providing investment advice as a registered investment adviser and serving as investment manager to the Global Fund. As such, TSC has been granted investment discretion over portfolio investments, including the Shares, held by or for the account of the Global Fund, including the Global Fund's voting and discretionary decisions. TSC GP serves as general partner of TSC. Sina Toussi serves as the chief investment officer of TSC and managing member of TSC GP.</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>The address of the principal business office of each of the Reporting Persons is 32 Elm Place - 3rd Floor, Rye, New York 10580.</principalBusinessOfficeOrResidenceAddress>
<citizenship>(i)	Two Seas Capital LP is a Delaware limited partnership;&#13;
(ii)	Two Seas Capital GP LLC is a Delaware limited liability company; and &#13;
(iii)	Sina Toussi is a United States citizen.</citizenship>
</item2>
<item3>
<notApplicableFlag>N</notApplicableFlag>
<typeOfPersonFiling>IA</typeOfPersonFiling>
<typeOfPersonFiling>HC</typeOfPersonFiling>
</item3>
<item4>
<amountBeneficiallyOwned>Amount beneficially owned as of June 30, 2025:&#13;
	&#13;
TSC - 6,155,074 Shares&#13;
TSC GP - 6,155,074 Shares&#13;
Sina Toussi - 6,155,074 Shares</amountBeneficiallyOwned>
<classPercent>Percent of class as of June 30, 2025:&#13;
&#13;
TSC - 6.4%&#13;
TSC GP - 6.4%&#13;
Sina Toussi - 6.4%&#13;
&#13;
The Shares reported for Item 4 total 6,155,074 Shares held by the Global Fund. TSC may be deemed to have sole power to vote and sole power to dispose of the Shares held by the Global Fund, through its capacity as investment adviser of the Global Fund. TSC GP may be deemed to have sole power to vote and sole power to dispose of the Shares held by the Global Fund, through its capacity as general partner of TSC. Sina Toussi may be deemed to have sole power to vote and sole power to dispose of the Shares owned by the Global Fund, through his capacity as Managing Member of TSC GP.&#13;
&#13;
The percentages reported for Item 4(b) are calculated based on a total of 96,777,000 Shares outstanding on June 30, 2025, as disclosed in the Issuer's Form 10-Q filed with the Securities and Exchange Commission on August 7, 2025.</classPercent>
<numberOfSharesPersonHas>
<solePowerOrDirectToVote>As of June 30, 2025, the Reporting Persons had sole power to vote or to direct the vote of 6,155,074 Shares.</solePowerOrDirectToVote>
<sharedPowerOrDirectToVote>As of June 30, 2025, the Reporting Persons had shared power to vote or to direct the vote of 0 Shares.</sharedPowerOrDirectToVote>
<solePowerOrDirectToDispose>As of June 30, 2025, the Reporting Persons had sole power to dispose or to direct the disposition of 6,155,074 Shares.</solePowerOrDirectToDispose>
<sharedPowerOrDirectToDispose>As of June 30, 2025, the Reporting Persons had shared power to dispose or to direct the disposition of 0 Shares.</sharedPowerOrDirectToDispose>
</numberOfSharesPersonHas>
</item4>
<item5>
<notApplicableFlag>Y</notApplicableFlag>
</item5>
<item6>
<notApplicableFlag>N</notApplicableFlag>
<ownershipMoreThan5PercentOnBehalfOfAnotherPerson>See disclosure in Item 4, which is incorporated by reference herein.</ownershipMoreThan5PercentOnBehalfOfAnotherPerson>
</item6>
<item7>
<notApplicableFlag>N</notApplicableFlag>
<subsidiaryIdentificationAndClassification>See disclosure in Item 2, which is incorporated by reference herein.</subsidiaryIdentificationAndClassification>
</item7>
<item8>
<notApplicableFlag>Y</notApplicableFlag>
</item8>
<item9>
<notApplicableFlag>Y</notApplicableFlag>
</item9>
<item10>
<notApplicableFlag>N</notApplicableFlag>
<certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are 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, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
</item10>
</items>
<signatureInformation>
<reportingPersonName>Two Seas Capital LP</reportingPersonName>
<signatureDetails>
<signature>/s/ Sina Toussi</signature>
<title>Sina Toussi / Managing Member of Two Seas Capital GP LLC, its General Partner</title>
<date>08/13/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Two Seas Capital GP LLC</reportingPersonName>
<signatureDetails>
<signature>/s/ Sina Toussi</signature>
<title>Sina Toussi / Managing Member</title>
<date>08/13/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Sina Toussi</reportingPersonName>
<signatureDetails>
<signature>Sina Toussi / Managing Member</signature>
<title>Sina Toussi/Self</title>
<date>08/13/2025</date>
</signatureDetails>
</signatureInformation>
</formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
