{"schema_version":"secwatch.filing_event.v1","accession":"0001140361-25-003194","form_type":"8-K/A","ticker":null,"cik":"0000704562","company_name":"Avid Bioservices, Inc.","filed_at":"2025-02-05T23:59:59+00:00","discovered_at":"2026-05-14T18:03:06.098623+00:00","generated_at":"2026-05-27T03:00:15.513148+00:00","sec_items":["1.01","2.01","3.01","3.03","5.01","5.02","5.03","8.01","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.9,"calibrated_materiality_score":0.9,"confidence":"high","headline":"Avid Bioservices acquired by GHO Capital and Ampersand for $12.50/share in all-cash deal valued at ~$1.1B","bullets":["Merger completed Feb 5, 2025; shareholders receive $12.50 per share cash, total equity value ~$1.1B.","Common stock trading halted and will be delisted from Nasdaq; company to file Form 15 to suspend SEC reporting.","Board reconstituted: prior directors depart; CEO Nick Green remains, Daniel Hart appointed as director.","$160M 7% convertible notes due 2029: fundamental change repurchase right; make-whole conversion rate increased to 113.7656 per $1,000 principal (approx $1,422 per note).","GHO and Ampersand plan to accelerate growth with expanded offerings, talent investment, and geographic reach."],"urls":{"canonical":"https://secwatch.observer/filing/0001140361-25-003194","json":"https://secwatch.observer/filing/0001140361-25-003194.json","markdown":"https://secwatch.observer/filing/0001140361-25-003194.md","text":"https://secwatch.observer/filing/0001140361-25-003194.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/0001140361-25-003194-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/ef20042975_8ka.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-27T03:00:15.513148+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"0fc402c1c2","claim":"Richard Hancock departed as Director at Avid Bioservices, Inc..","evidence_excerpt":"Joseph Carleone, Ph.D., Esther Alegria, Ph.D., Richard Hancock, Catherine Mackey, Ph.D., Gregory Sargen and Jeanne Thoma, each of whom was a director of the Company as of immediately prior to the Effective Time, ceased to be a director of the Company and a member of any committee of the Company’s Board of Directors.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/0001140361-25-003194-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"ceased to be a director"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"2363695fac","claim":"Esther Alegria departed as Director at Avid Bioservices, Inc..","evidence_excerpt":"Joseph Carleone, Ph.D., Esther Alegria, Ph.D., Richard Hancock, Catherine Mackey, Ph.D., Gregory Sargen and Jeanne Thoma, each of whom was a director of the Company as of immediately prior to the Effective Time, ceased to be a director of the Company and a member of any committee of the Company’s Board of Directors.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/0001140361-25-003194-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"ceased to be a director"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"2763d33b09","claim":"Joseph Carleone departed as Director at Avid Bioservices, Inc..","evidence_excerpt":"Joseph Carleone, Ph.D., Esther Alegria, Ph.D., Richard Hancock, Catherine Mackey, Ph.D., Gregory Sargen and Jeanne Thoma, each of whom was a director of the Company as of immediately prior to the Effective Time, ceased to be a director of the Company and a member of any committee of the Company’s Board of Directors.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/0001140361-25-003194-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"ceased to be a director"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"4cc857c613","claim":"Catherine Mackey departed as Director at Avid Bioservices, Inc..","evidence_excerpt":"Joseph Carleone, Ph.D., Esther Alegria, Ph.D., Richard Hancock, Catherine Mackey, Ph.D., Gregory Sargen and Jeanne Thoma, each of whom was a director of the Company as of immediately prior to the Effective Time, ceased to be a director of the Company and a member of any committee of the Company’s Board of Directors.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/0001140361-25-003194-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"ceased to be a director"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"9b215f4897","claim":"Gregory Sargen departed as Director at Avid Bioservices, Inc..","evidence_excerpt":"Joseph Carleone, Ph.D., Esther Alegria, Ph.D., Richard Hancock, Catherine Mackey, Ph.D., Gregory Sargen and Jeanne Thoma, each of whom was a director of the Company as of immediately prior to the Effective Time, ceased to be a director of the Company and a member of any committee of the Company’s Board of Directors.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/0001140361-25-003194-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"ceased to be a director"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"d6e8add769","claim":"Daniel Hart was appointed as Director at Avid Bioservices, Inc..","evidence_excerpt":"Following the Effective Time, Nicholas Green remains a director of the Company and Daniel Hart was appointed a director of the Company.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/0001140361-25-003194-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"f731096956","claim":"Jeanne Thoma departed as Director at Avid Bioservices, Inc..","evidence_excerpt":"Joseph Carleone, Ph.D., Esther Alegria, Ph.D., Richard Hancock, Catherine Mackey, Ph.D., Gregory Sargen and Jeanne Thoma, each of whom was a director of the Company as of immediately prior to the Effective Time, ceased to be a director of the Company and a member of any committee of the Company’s Board of Directors.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/0001140361-25-003194-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"ceased to be a director"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"1a252293cda5e96a8c0770958563a7fa4e7da181","claim":"Avid Bioservices, Inc. underwent a change of control involving Space Finco, Inc. and Merger Sub, owned by funds managed by affiliates of GHO Capital Partners LLP and Ampersand Capital Partners for $12.50 in cash (closed 2025-02-05).","evidence_excerpt":"(subject to any adjustment pursuant to the Indenture, including any increase as a result of a Make-Whole Fundamental Change (as defined in the Indenture)) multiplied by $12.50 (which is an amount equal to the Merger Consideration (as defined below)), and a unit of Reference Property under the Indenture will be comprised of an amount in cash equal to","evidence_source":"SEC 8-K Item 2.01/5.01","evidence_url":"https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/0001140361-25-003194-index.htm","confidence":0.9,"family_label":"M&A Transactions","details":[{"label":"Action","value":"change of control"},{"label":"Counterparty","value":"Space Finco, Inc. and Merger Sub, owned by funds managed by affiliates of GHO Capital Partners LLP and Ampersand Capital Partners"},{"label":"Consideration","value":"$12.50 in cash"},{"label":"Closing","value":"2025-02-05"}],"fact_type":"ma_transaction"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}