Avid Bioservices Inc (CDMO) Cotización

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

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

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

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

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

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...

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

Thanks for the update. Very disappointing.

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.

I see $12.98 premarket, real time, Schwab.

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.

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

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

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

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.

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...

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.

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.

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.

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

CDMO Board Issues New SEC 14A Filing, Link...

https://ir.avidbio.com/node/21266/html

Seems not everyone is as happy about this sale as the board hoped, lol.

Glta StockHOLDers!

Selling the company when the new administration is going to push for drugs to be manufactured in the USA is crazy !!! The institutional investors can not be that stupid to sell CDMO now ! All computer generated votes can be changed up to the day before the vote. NO NO NO

Michael

You might want to look at VRNA. They have a recently launched phosphodiasterase inhibitor for COPD patients. Will probably become SOC. Also have other drugs in pI and P2 trials.

Yes, threes and Djon...Agreed! I like many others have been looking for other opportunities in the Biotech market....now I am not promoting this, but you may want to research it yourself and put it on your watch screen....IBRX...has an approved product for bladder cancer, but working on a lot more indications.

I have been selling CDMO and buying IBRX.....I think it is a great buy here with lots of upside potential....at the very least, I think you have a really good shot at a trade with 20% upside....but of course do your own DD.

Best all.

I think Mr Green is a Dic

I don’t think Mr Green has a Dic…

Dicks.
Nick Green, president and CEO of Avid Bioservices, said, “We are pleased that ISS and Glass Lewis recognize the premium value of the GHO and Ampersand transaction for Avid stockholders, as well as the process run by our Board of Directors to ensure we are maximizing value. We encourage our stockholders to vote FOR our transaction with GHO and Ampersand today.”

In making its recommendation, ISS stated in its January 17, 2025, report:*

“The sales process was sufficiently thorough, shareholders are receiving a premium, the implied valuation supports the premium being offered, and the cash consideration provides liquidity and certainty of value for shareholders.”

They really like to pump that "certainty of value". It's an investment. There's no certainty of value for any investment until it's sold.

For a company that never PR'd anything they sure are hustling their lies to get more shareholders to capitulate their thieving scheme.
Looking at the latest 14a .. Could be they don't have teh votes. Let them rot in hell.

with this volume it probably means they have the votes.

AltraVue Capital, LLC as of 12/31 filed a 13g for 3,797,813 shrs ...unchanged from 9/30...r

Thanks Bob.
Clue was when they said they could not talk on the phone due to a throat/laryngitis issue.

You didn't seem a Lululemon kinda guy. ;)

tech200

I still say where are the fillings if all those shares were purchased ? Also how can there be 120% of the shares outstanding that was reported ? The board has to know where those shares are . At least 20% short is between 10/15 million shares that can be voted on by the BUYER not the short seller IMO

Michael

Sorry was not me.  Problem has been fixed.   Thanks

That makes no sense. Sale to Ampersand was announced on Nov 6. So the buyers had more than a month to buy shares and vote yes to the sale. How is that fair? The buyer should not be able to do that.

I got one, responded and was asked to do something that seemed unusual so I responded and said sorry, couldn't help

I got one too.

Looking to get a message to Bifest.

I think you sent me an email but am so distrusting of scams these days that I am leery to respond.
Was it you and if so what can I do for you?

Question - So how does this work with trading continuing after the date you reference? (12/11/24) On that day, say there were no shorts to confuse thing. Every vote could be cast by the shareholders of record. Then, 6 weeks later there are probably at least several million shares were sold, do the shareholders as of 12/11 still vote even though they are no longer shareholders? Can you confirm that is the way it works?

JBAIN

I WAS SEEKING A FINALIZATION DATE FOR THIS TRAVESTY OF JUSTICE IMHO; and EVERYWHERE STATES SOMETIME IN THE FIRST QUARTER OF 2025!
END IT ALREADY AND PUT US LOYAL; LONGSTANDING SHAREHOLDERS OFF INTO NEW PASTURES!!
AS A PPHM INTO CDMO SHAREHOLDER SINCE 1996; AND a huge Dr Philip Thorpe fan and follower this is all such a disservice to his legacy with TARVACIN/BAVITUXAB! 

The PPS KEEPS INCHING UP TO BUYOUT PRICE; SO HOPEFULLY THIS GETS PUT TO REST EXPEDITIOUSLY SAVE FOR A WHITE KNIGHT OFFER OF $18-20! It has been a privilege and an honor getting to moderate this board, especially in being the longest tenured blocked person ever on this board back in the PPHM days! Thanks for all your comments and support over the years as it was always appreciated!

<a href="https://www.stocktitan.net/news/CDMOP/avid-bioservices-announces-expiration-of-hart-scott-rodino-waiting-pt9saede8qvx.html#:~:text=When%20will%20Avid%20Bioservices%20(CDMO,and%20other%20customary%20closing%20conditions.">https://www.stocktitan.net/news/CDMOP/avid-bioservices-announces-expiration-of-hart-scott-rodino-waiting-pt9saede8qvx.html#:~:text=When%20will%20Avid%20Bioservices%20(CDMO,and%20other%20customary%20closing%20conditions.</a>

No, No, and No.Then sold position after 20 something years. Bought Kodak. Feels weird not owning anymore.

Shareholders of record as of 12/11/24.

One question. I would think that the shares that are bought after the acquisition announcement would not be eligible to vote on the proposed sale of the company. Isn't that the case?

Hopefully avid and all avid executives houses and avid plants burn down to the ground....Karma...

You bring up some good points, but due to privacy issues, even though you can find out how many shares are shorted, it is very difficult to find out who the owner of these shorts are. You are correct, whoever is accumulating shares even in an agreed takeover situation must file a 13 D form within 10 days of accumulating over 5% of a public company even in an agreed takeover.

Now the strange thing, is that they can also file an abbreviated version of this(13 G) which allows certain institutional investors such as registered investment companies/banks etc., which allows them to only report their holdings 45 days after year end....and in this case I assume that Ampersand and company would qualify here as so far they have not reported their holdings via a 13 D, and I am certain(OK almost certain) they already control enough shares to swing the vote in favour of the takeover.

So that brings us once again to why the registered shorts have not covered, and who would benefit from this? And this would depend on who owns and controls these shares......again, not sure if this matters at this point as I believe this is a done deal unfortunately!

westjetter
I do not understand your answer (1) short shares do not get to vote so how does that help them (2) If in fact they pick up enough shares to swing the vote in their favor where are the required fillings when they reached between 1% to 50 % to be able to vote too assure the outcome ? I believe at 10% you have to file within days of accumulating that much stock TIA

Michael

With Meta devastating their DEI depts i guess its a safe bet to say that anyone with or contemplating a degree in HR gender management studies is going to be looking at attending MIckey D's Hamburg college pretty soon...budda bud da da...imao...r

no, no, and no

Very simple....Ampersand and company short the shares and therefore will not need to cover because they will own all of the shares when this deal completes. I guess the chance they take, is that the takeover is not approved, but I am sure they already have enough shares picked up in the first couple of weeks to ensure the vote goes their way.

Covering before the vote tally ? If you are short how do you cover after the sale is approved ? TIA

Michael