CDMO

Acquisition Completion: GHO Capital and Ampersand have successfully completed the acquisition of Avid Bioservices, a biologics Contract Development and Manufacturing Organisation (CDMO), in an all-cash transaction valued at approximately $1.1 billion, enhancing Avid's growth potential and service offerings.

Future Growth Plans: With the new ownership, Avid aims to leverage additional resources to expand its capabilities and geographic reach, while continuing to support the biotech sector with high-quality development and manufacturing services.

Avid Bioservices Transaction Support: Avid Bioservices has received recommendations from proxy advisory firms ISS and Glass Lewis to vote "FOR" its proposed transaction with GHO Capital Partners and Ampersand Capital Partners, highlighting the premium value for stockholders.

Voting Encouragement: The Avid Board of Directors unanimously recommends that stockholders participate in the voting process for the transaction, emphasizing the thorough sales process and benefits of cash consideration for shareholders.

Insider Trading Activity: Richard A. Richieri, COO of $CDMO, sold 200 shares (2.2% of his holdings) on January 10, 2025, marking a total of 17 insider sales without any purchases in the last six months.

Institutional Investor Movements: In the latest quarter, 82 institutional investors increased their positions in $CDMO while 72 reduced theirs, indicating mixed sentiment among large shareholders.

Analyst Rating and Price Target: RBC Capital analyst Sean Dodge has maintained a Hold rating on Avid Bioservices with a price target of $12.50, while the stock closed at $12.38 recently.

Insider Activity and Sentiment: Corporate insider sentiment for Avid Bioservices is negative, with an increase in insiders selling shares, including a significant sale by the CEO, indicating potential concerns about the company's performance.

Transaction Overview: Avid Bioservices is set to engage in a transaction with GHO Capital Partners and Ampersand Capital Partners, which offers significant cash value and a premium to its stockholders, with the Board of Directors recommending a vote in favor of this deal at a special meeting scheduled for January 30, 2025.

Market Position and Future Outlook: The proposed transaction aims to mitigate risks associated with Avid's standalone future amidst challenges in the biologics manufacturing industry, while also addressing the need for further investment to capitalize on growth potential.

Investigation of Companies: Halper Sadeh LLC is investigating Avid Bioservices, Adams Resources & Energy, Summit Materials, and Brightcove for potential violations of federal securities laws related to their recent sales at specified cash prices per share.

Legal Support for Shareholders: The law firm offers free consultations to shareholders regarding their legal rights and options, emphasizing that they operate on a contingent fee basis, meaning no upfront costs for legal fees.

Investigation of Avid Bioservices Sale: Former Louisiana Attorney General Charles C. Foti, Jr. and Kahn Swick & Foti, LLC are investigating the proposed sale of Avid Bioservices, Inc. to GHO Capital Partners and Ampersand Capital Partners, where shareholders would receive $12.50 per share.

Concerns Over Valuation: KSF aims to determine if the sale price adequately reflects the company's value and invites shareholders to discuss their legal rights regarding the transaction.

Investigation of Companies: Halper Sadeh LLC is investigating potential securities law violations and fiduciary breaches related to the sales of several companies, including Air Transport Services Group, Avid Bioservices, Retail Opportunity Investments Corp., and Summit Materials, at specified cash prices per share.

Legal Support for Shareholders: The firm offers free consultations to shareholders affected by these transactions, aiming to seek increased compensation or additional disclosures on their behalf, with legal fees handled on a contingent basis.

Investigation of Companies: Halper Sadeh LLC is investigating Avid Bioservices, Air Transport Services Group, and Staffing 360 Solutions for potential violations of federal securities laws and breaches of fiduciary duties related to their recent sales.

Shareholder Rights: The law firm encourages shareholders from these companies to contact them for free consultations regarding their legal rights and options, emphasizing that they operate on a contingent fee basis.

Acquisition Update: Avid Bioservices has announced the expiration of the waiting period under the HSR Antitrust Improvements Act regarding its acquisition by GHO Capital Partners and Ampersand Capital Partners, moving closer to finalizing the transaction expected in Q1 2025, pending stockholder approval.

Company Overview: Avid Bioservices is a biologics contract development and manufacturing organization that provides comprehensive services for biotechnology and pharmaceutical companies, with over 30 years of experience in producing biologics.

Investigation of Avid Bioservices Sale: Halper Sadeh LLC is investigating the fairness of Avid Bioservices' sale to GHO Capital Partners and Ampersand Capital Partners for $12.50 per share, focusing on potential violations of federal securities laws and fiduciary duties by Avid's board.

Legal Rights for Shareholders: The firm encourages Avid shareholders to explore their legal rights and options, potentially seeking increased compensation or additional disclosures regarding the merger.

Insider Trading Activity: Richard A. Richieri, COO of $CDMO, sold 3,843 shares on December 26, 2024, representing about 7.9% of his holdings, leaving him with 44,556 shares. In the past six months, all 24 insider trades were sales, with no purchases reported.

Institutional Investor Movements: In the latest quarter, 84 institutional investors increased their positions in $CDMO stock while 88 reduced theirs, indicating mixed sentiment among large shareholders.

Transaction Announcement: Avid Bioservices has initiated the mailing of definitive proxy materials regarding its acquisition by GHO Capital Partners and Ampersand Capital Partners, with a Special Meeting for stockholders scheduled on January 30, 2025, to vote on the transaction.

Value Proposition: The proposed deal offers Avid stockholders $12.50 per share in cash, representing significant premiums over recent share prices, while also de-risking the company's future as a standalone entity amid industry challenges.

Investigation of Companies: Halper Sadeh LLC is investigating Profire Energy, Avid Bioservices, and Arcadia Biosciences for potential violations of federal securities laws and breaches of fiduciary duties related to their recent sales and merger transactions.

Legal Support for Shareholders: The firm offers free consultations to shareholders regarding their rights and options, emphasizing that they operate on a contingent fee basis, meaning no upfront legal fees are required.

Financial Performance: Avid Bioservices reported a 32% increase in revenues for the second quarter, totaling $33.5 million, and an overall revenue increase of 17% for the first six months of fiscal 2025, despite incurring a net loss of $17.4 million in the second quarter.

Merger Announcement: The company has entered into a definitive merger agreement with GHO Capital Partners and Ampersand Capital Partners for an all-cash acquisition valued at approximately $1.1 billion, expected to close in early 2025, which will result in Avid's common stock being delisted from public exchanges.

Investigation of Companies: Halper Sadeh LLC is investigating potential violations of federal securities laws and breaches of fiduciary duties related to the sales and mergers of several companies, including Altair Engineering, Mid Penn Bancorp, Avid Bioservices, and AeroVironment.

Legal Support for Shareholders: The firm offers free consultations to shareholders regarding their legal rights and options, potentially seeking increased compensation or additional disclosures in these transactions.

Kuehn Law Investigations: Kuehn Law, PLLC is investigating potential shareholder claims related to proposed mergers involving BurTech Acquisition Corp., Avid Bioservices, EMCORE Corporation, and Innovid Corp., focusing on whether the companies acted in the best interest of shareholders and disclosed necessary information.

Shareholder Participation Encouraged: Shareholders are urged to get involved as their participation is crucial for maintaining fairness in financial markets; Kuehn Law offers support without charging clients for case costs.

Avid Bioservices Growth and Acquisition: Avid Bioservices is experiencing significant growth in the biopharmaceutical sector, with a proposed acquisition by GHO Capital and Ampersand valued at $1.1 billion, despite shareholder pushback regarding the offer's timing and valuation.

Strong Financial Performance: The company reported a 6% increase in revenue for Q1 Fiscal 2025, reaching $40.2 million, and has a backlog of $219 million, indicating a positive outlook amidst ongoing market volatility and cautious analyst ratings.

Investigation of Companies: Halper Sadeh LLC is investigating potential violations of federal securities laws and breaches of fiduciary duties related to the sales and mergers of several companies, including Avid Bioservices, BurTech Acquisition Corp., Innovid Corp., and EMCORE Corporation.

Shareholder Rights: The law firm encourages affected shareholders to contact them for free consultations regarding their legal rights and options, emphasizing that they operate on a contingent fee basis.

Investigation of Companies: Halper Sadeh LLC is investigating Zuora, Inc., Avid Bioservices, Inc., and BurTech Acquisition Corp. for potential violations of federal securities laws and breaches of fiduciary duties related to their recent sales and mergers.

Shareholder Rights: The firm encourages shareholders from these companies to contact them for free consultations regarding their legal rights and options, emphasizing that they operate on a contingent fee basis.