Shareholders' Equity

3 Months Ended

Mar. 31, 2018

Stockholders' Equity Note [Abstract]

Shareholders' Equity

Shareholders’ Equity 

The following table presents a reconciliation of the Company’s beginning and ending balances in shareholders’ equity for the three months ended March 31, 2018: 

Shareholders’ Equity:	2018
Shareholders’ equity - January 1,	$	85,580
Net loss	(12,236		)
Other comprehensive income	11
Stock-based compensation expense	2,134
Share repurchases	(20,212		)
Exercise of warrants (see Note 8)	2,911
Expiration of warrants (see Note 8)	2,167
Equity component of 2018 Notes (see Note 9)	26,699
Shareholders’ equity - March 31,	$	87,054

Share Repurchases

In February 2018, the Board of Directors approved an authorization to repurchase up to $18,000 of Avadel ordinary shares represented by ADSs in connection with the offering of the 2018 Notes.

In March 2018, the Board of Directors approved an authorization to repurchase up to $7,000 of Avadel ordinary shares represented by ADSs. Repurchase may be made until December 31, 2018 in open-market transactions on or off the exchange, in privately negotiated transactions, or through other means as determined by the Company’s management and in accordance with the regulations of the SEC.

As of March 31, 2018, the Company had total authorizations of $50,000 to repurchase shares. During the three months ended March 31, 2018, the Company repurchased 2,307 ordinary shares for $20,212. At March 31, 2018, the Company had approximately $7,425 of shares that may yet be purchased under the approved authorization amount. Subsequent to March 31, 2018, the Company completed its total share buyback program.