Avid Bioservices Inc News - CDMO

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Form 8-K - Current report

Avid Stockholders Approve Transaction with GHO and Ampersand

TUSTIN, Calif., Jan. 30, 2025 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO) (“Avid” or the...

Form 4 - Statement of changes in beneficial ownership of securities

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Avid Reminds Stockholders to Vote Today FOR the Transaction with GHO and Ampersand

TUSTIN, Calif., Jan. 22, 2025 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO) (“Avid” or the...

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Avid Recommends Stockholders Follow Recommendations of ISS and Glass Lewis and vote FOR the Transaction with GHO and Ampersand

TUSTIN, Calif., Jan. 21, 2025 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO) (“Avid” or the...

Form SCHEDULE 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend]

Form 4 - Statement of changes in beneficial ownership of securities

Form 144 - Report of proposed sale of securities

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Avid Bioservices Files Investor Presentation Highlighting Value Maximizing Transaction with GHO and Ampersand

TUSTIN, Calif., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO) (“Avid” or the...

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Form 4 - Statement of changes in beneficial ownership of securities

north40000 3 hours ago

Avid Bioservices was incorporated in Delaware in 1996 via Techniclone and Peregrine. Avid conducts its business activities in California. A suit to recover our lost use of Capital due to managements' and auditor's gross (may be deliberate)negligence in 1) failure to timely check boxes on forms and 2) managing corporate finances in a fiduciary manner may be brought in Wilmington, Delaware or San Jose/San Diego, California, IMO. A graph of Avid share price illustrates the facts relating to our lost use of capital date wise, before and after expansion was started/completed. We know the financing facts--originally at low interest rates and subsequently at high interest rates. The party(John Doe) that caused any management "mistake" in 1) and 2) above would be included as a defendant in the complaint, as would the 2 funds that have negotiated/completed the buyout/merger transaction. See California v. Texas, 141 S.Ct. 2104, 2113(2021) and TransUnion, LLC v. Ramirez, 141 S.Ct. 2190, 2203-2204(2021). See also FRCP 23.1 and 18f-4 regarding 4 year timeliness, bond requirements, and shareholders who have rights to bring shareholder derivative suits. A demand letter to Avid management and BOD looks futile, hence unnecessary.

Spouse and I are contemplating a shareholder derivative suit as outlined above. Is anyone here interested? A $50k bond in California(?) is a substantial cost that could be split. I have contacted no institutional shareholders to determine their interest, nor have I been able to talk with attorneys I know to ascertain their interest.

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cheynew 9 hours ago

But that won’t do us any good as the sale will have closed.

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ArchieK 15 hours ago

It seems they feel they were given bad legal guidance and might be pursuing an outside firm over this.

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geocappy1 24 hours ago

Wish I had FU money as I would sue just to depose them all. No one is going to convince me the financial screwup was not intentional. If not, why was no one held accountable.

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djohn 1 day ago

We all thought Nick and gang were going to grow the pie and everyone would benefit but in reality Nick and gang only grew the portion of the pie the gang controlled thus squeezing shareholders out of a fair return.
I call them the gang because they are gangsters! Taking from people playing fairly.
Again this experience has opened my eyes the utter sleaze exists in this world and the things they get away with. I hope they can live happily with the money they have taken from good people thinking their wit makes them in titled to unearned fortunes
I hope the best to everyone who went through this little adventure!
Good luck!

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4OurRetirement 1 day ago

I Suppose Anything's Possible, But Not Likely(shrug)...

Getting only $12.50/share is retail already getting taken advantage of, so,
I don't think there's any point to attract attention by not paying the $12.50/share.

But, I will also believe it when I see my cash...

Glta!

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Threes 2 days ago

If NIck was in tehe building would not lose any sleep over that.

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tech0200 2 days ago

So I expect to see that my shares will be converted to cash at 12.50 a share.. is there any chance to get screwed in the process?

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corporalagarn 2 days ago

I hope an earthquake takes the whole f-ing place down. No casualties though. That would be justice.

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4OurRetirement 2 days ago

I Would Pay Good Money To See If...

Any Of The Numerous Existing Shorted Shares Of $CDMO

Directly Or Indirectly Belonged To ANYONE Profiting From
What Seems Like The Organized Stealing Of This Company!

Glta...

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Threes 2 days ago

What sleezing thieving MF'ers, they got away with it. Not that should be any surprise they were way better thieves then they were at running the company.

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4OurRetirement 2 days ago

Link To $CDMO News Release Regarding Today's Sale...

https://ir.avidbio.com/news-releases/news-release-details/avid-stockholders-approve-transaction-gho-and-ampersand

Glta Soon To Be ExStockHOLDers!

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4OurRetirement 2 days ago

(edited):A Poster On Another Board Said Within 3days...

according to the MA.

Link:

https://stocktwits.com/jbraun123/message/602200384

I take that to mean 3 business days, so, Fri, Mon, Tues.
Might Depend ON When CDMO Stops Trading ON NASDAQ?
Which I Would Wager That Today Is The Last Day To Trade.
But Who Knows?
The Call Was Very Short...

Glta...

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4OurRetirement 2 days ago

An Audio Replay Will Be Available In 24hrs(?)...

At Either The Link I Previously Posted This Morning Or:

https://www.virtualshareholdermeeting.com/CDMO2025SM

Glta...

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4OurRetirement 2 days ago

I Attended The Remote Stockholder Meeting Which Was...

Very Short And They Had Sufficient Votes To Approve The Sale.

Not Sure How Long It Will Take To Finalize The Legalities
And Pay Shareholders Their Money, But, They Said It Would
Happen As Fast As Possible!

Happy 2025!

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investingdog 2 days ago

Is the sale approved? Where did you get this info?

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geocappy1 2 days ago

Been at Halo since selling cdmo at 12.20 to take advantage of halo drop to 4y. Up 10 points since then on halo. Equivalent of almost 16 in cdmo. Got one right so far.

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Roger1 2 days ago

Hope to see you all over at HALO or VRNA. glta

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DrRocker57 2 days ago

Best wishes to all who we have shared views, information and disappointment with here.

Dr Rocker out

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4OurRetirement 2 days ago

Well Folks, Sale Officially Approved. They Did Say...

If Approved, The Sale Would Be Finalized As Soon As Possible,
Though They Didn't Elaborate On What That Meant:
Hours, Days, Weeks, Etc...

It Was Nice Knowing You All.
Best Wishes For A Happy, Healthy, Wealthy 2025!

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westjtter 2 days ago

lol....yes so do I, talk about being screwed around over the years.....still don't know what really happened in the Bavi ph 2 mix-up, or label tampering resulting in unreliable results of what appeared to be a positive trial? And shortly thereafter Keytruda became the SOC.....was Bavi really sabotaged by one of the BP's, and did it never make it to market because PPHM was always underfunded, or was it just a failed drug candidate??? I guess we will never know!

Meanwhile I suppose we will all have to find other investments and chat boards after this one will shut down.

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djohn 2 days ago

I remember when that was said about Bavi…

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Roger1 2 days ago

Will probably be SOC in 2 years.

It's been a triple+ for me since May. Hope to see you all on VRNA board.

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djohn 2 days ago

Ready to grab your ankles and yell “Thank you sir may I have another?”
Shame on us for risking our hard earned money and expecting a fare return. Only slimy green sleaze balls get a riskless significant return on wall st…

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westjtter 2 days ago

Yes, very good call....VRNA up 24% in last month.....IBRX up over 30% in last month...again do your own DD, but I continue to believe this one has a long run ahead of it. All IMO only of course!

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4OurRetirement 3 days ago

Here's Link To Today's Stockholder Meeting Showing Vote...

https://central.virtualshareholdermeeting.com/vsm/web?pvskey=CDMO2025SM

Meeting Is At 10am PST/1pm EST
It Asks For Your Accounts "Control Number"
But, Will Probably Allow For Anonymous Login.
Glta StockHOLDers!

r622102675 3 days ago

Using the phrase from Hancock's description from his filing supposed proceeds rather aptly describes the entire Den of Thieves prior year's motivation... bona fide gift ...imao...r

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ArchieK 3 days ago

Stop! I have a block looking to fill and all I've gotten rid of is 100 shares!

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Preciouslife1 3 days ago

HI!! Sadly I'm escalating my sales daily whittling down large holdings built over last 30 years or so.

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hayward 4 days ago

r622102675

I still want to know how CDMO accounts for the extra shares ? Also how can anyone accumulate all of the shares without reporting ownership . IMO not enough shares trading daily to account for all of these shares

Institutional ownership I jumped from 124.3% plus 9% would upwards of 135%

Michael

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r622102675 4 days ago

So did Ampersand expect a class action lawsuit to be filed if the sale goes thru and has figure in mind to settle in regards to the incompetence factor of the refinancing being the main reason that the BOD giving in to the merger?...At $1.50/shr for the settlement they are still coming out ahead as we all know...imao...r

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Preciouslife1 4 days ago

Hi!!! I sold several Thousand shares and two Fidelity accounts at $12.46, just as a hedge of protection in case it doesn't go through to mitigate a precipitous drop and losses! I haven't sold chairs of CDMO Aka PPHM in decades and did sell with a heavy heart, knowing that the value is never unlocked and the technology and the build outs!
But as in real life, it is what it is and we all must be prudent and not greedy and I'm willing to give up four cents a piece of mind on several thousand of the shares, leaving majority of it behind still a Fidelity! That's just me. I know y'all have your own strategies and plans and just be very prudent and wise because Management and hedge funds could care less than zero if that's possible about you.!
Peace and blessings to all!! PL1

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4OurRetirement 4 days ago

Obviously, If The Proposal Passes, We All Get...

$12.50 /Share.

Imho, "they" knew they had sufficient shares to get this deal approved long before they signed...

If the vote is not enough to pass, there is possibility of the deal getting sweetened.

So, my only question is, if the deal doesn't get passed, what are the possibilities of a negative outcome for shareholders?
Feel free to comment. I will be voting this evening and just want to be prudent and consider all possible "likely" outcomes...

Happy 2025 to all...

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ArchieK 5 days ago

I have a large sell order in just under the $ they're offering. If they sell I'll report.

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cheynew 5 days ago

Thanks for the update. Very disappointing.

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ArchieK 5 days ago

I've been in communication with Wohl and Fruchter, LLC, one of the firms that reached out about investigating the purchase of CDMO. I got an email from them yesterday saying that after extensive investigation and receipt of materials they requested and reviewed, that they would not see any areas that would serve as the basis of a lawsuit.

They were very thorough in their explanation, divulged what CDMO shared, the basis of their review. The timing of things, the parties involved, and especially the issue with the notes, were discussed. It seems there were several interested buyers as well.

On the notes issue, my interpretation of their analysis (MY WORDS) is that they were stupid not sneaky. In fact, it seems they may be taking action against a firm that they felt was responsible for the underlying reasons for the "mistake".

The firm also speculated that the recent endorsement of ISS and Glass Lewis would sway large investors. While speculation of course, the firm felt that this endorsement would carry a lot of weight.

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north40000 5 days ago

I see $12.98 premarket, real time, Schwab.

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cheynew 6 days ago

Thursday we should know if it is approved.
The Special Meeting to vote on the transaction is scheduled for January 30, 2025, and Avid stockholders of record as of December 11, 2024, are eligible to vote at the Special Meeting.

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cheynew 6 days ago

THE SCHALL LAW FIRM INVITES SHAREHOLDERS WITH LOSSES TO JOIN AN INQUIRY INTO AVID BIOSERVICES, INC. FOR SECURITIES FRAUD

LOS ANGELES, CA / ACCESS Newswire / January 26, 2025 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Avid Bioservices, Inc. ("Avid" or "the Company") (NASDAQ:CDMO) for potential breaches of fiduciary duty on the part of its directors and management.

The investigation focuses on determining if the Avid board breached its fiduciary duties to shareholders. The Company announced that it will be acquired by GHO Capital Partners and Ampersand Capital Partners in a $1.1 billion all-cash transaction.

If you are a shareholder, click here to participate.

We also encourage you to contact Brian Schall of the Schall Law Firm, 2049 Century Park East, Suite 2460, Los Angeles, CA 90067, at 310-301-3335, to discuss your rights free of charge. You can also reach us through the firm's website at www.schallfirm.com, or by email at bschall@schallfirm.com.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:
The Schall Law Firm
Brian Schall, Esq.
310-301-3335
info@schallfirm.com
www.schallfirm.com

SOURCE: The Schall Law Firm

View the original press release on ACCESS Newsw

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cheynew 1 week ago

Institutional ownership I jumped from 124.3% to:
Institutional Shares (Long) 81,254,317 - 127.03% (ex 13D/G) - change of 9.15MM shares 13.01% MRQ

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Preciouslife1 1 week ago

https://finance.yahoo.com/news/avid-bioservices-cdmo-started-sale-155549593.html?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referrer_sig=AQAAAIb8JzYyJrOx4--_Gu1HTiEyHEjbxHzT5l7JpyndZAVz9Z1pMc_r-ZGNvE0cOiB4bqNaz9WvMtOHGtdEAzCH1YIxncfRZr9oRGSeoFoBM_Eb8lNKjjx0QBKVLWxDS0QgpjNdQY-F-dlVXlhbFYRDAAACZKV4D3DYJx5T8XyfJInz

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corporalagarn 1 week ago

The backlog at 07/31/2024 was $219m. Nick Green was asked if he thought this would be over the four or five quarters. He leaned towards four quarters as more early stage customers. The revenue projections used to see if the deal is fair are $186m for 2026 and $221m for 2027? Figure that one out.

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4OurRetirement 1 week ago

I Agree. During Buildout All Financial Projections Were...

higher than the suddenly low projections they supplied with this buyout paperwork.
Do they think we are stupid?
Imho, they completed the buildout with a particular customer in mind,
and I think after this buyout, it will "eventually" be owned by that same Big Pharma customer...

I still have a large number of shares and am about to vote no, no, no!

Glta StockHOLDers. Perhaps we will at least force a bump up of the purchase price?

Happy 2025...

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cheynew 1 week ago

Totally agree Corp Alagarn. I’m perplexed none of the 4 law firms supposedly investigating this have made no public comments yet. Surely there is some smoke there.

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ArchieK 1 week ago

I was waiting to see if anything materialized that would change my mind (didn't think so) but read this post and voted no, no, no. I don't have an insignificant number of shares.

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corporalagarn 1 week ago

A couple of things. They have always glossed over the convertible note F-up like it is something that happens in the normal course of business. It never happens. Whose fault was it? Nobody has ever been held accountable, which leads me to beleive, with my tinfoil hat firmly in place, that it was intentional. At least have the decency to scapegoat somebody instead of giving them millions. This cost the company tens of millions of market cap at least. Likely over $100m.

They finished the buildout that increases revenue capacity to over $400m in early 2024 and their revenue projections for 2029 are $283m, about 2/3 full? When did they ever indicate anything like that when they were spending our money on the expansion? The numbers they provided in their projections to justify the $12.50 are bogus or they have been lying to us all along.

The convertible note debacle and the adjusted conversion price of less than ten bucks, along with the interest rate going from 1.25% to 7% really screwed the shareholders and the person/people responsible for it our cashing out.

This stinks from the top down.

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r622102675 1 week ago

Now why would 2 parties throw dead money at this issue?… those billing hours by the lawyers aren’t cheap… unless some parties can now say they were “misled” when they cast their votes?…can of worms costs have gone up with inflation…imao…r

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Avid Bioservices Inc (CDMO)

Empower your portfolio: Real-time discussions and actionable trading ideas.

CDMO News

Form 8-K - Current report

Avid Stockholders Approve Transaction with GHO and Ampersand

Form 4 - Statement of changes in beneficial ownership of securities

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Avid Reminds Stockholders to Vote Today FOR the Transaction with GHO and Ampersand

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Avid Recommends Stockholders Follow Recommendations of ISS and Glass Lewis and vote FOR the Transaction with GHO and Ampersand

Form SCHEDULE 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend]

Form 4 - Statement of changes in beneficial ownership of securities

Form 144 - Report of proposed sale of securities

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Avid Bioservices Files Investor Presentation Highlighting Value Maximizing Transaction with GHO and Ampersand

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Form 4 - Statement of changes in beneficial ownership of securities

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Avid Bioservices Inc (CDMO)

Empower your portfolio: Real-time discussions and actionable trading ideas.

CDMO News

Form 8-K - Current report

Avid Stockholders Approve Transaction with GHO and Ampersand

Form 4 - Statement of changes in beneficial ownership of securities

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Avid Reminds Stockholders to Vote Today FOR the Transaction with GHO and Ampersand

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Avid Recommends Stockholders Follow Recommendations of ISS and Glass Lewis and vote FOR the Transaction with GHO and Ampersand

Form SCHEDULE 13G/A - Statement of Beneficial Ownership by Certain Investors: [Amend]

Form 4 - Statement of changes in beneficial ownership of securities

Form 144 - Report of proposed sale of securities

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Avid Bioservices Files Investor Presentation Highlighting Value Maximizing Transaction with GHO and Ampersand

Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material

Form 4 - Statement of changes in beneficial ownership of securities

CDMO Discussion

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