secwatch.observer — SEC 8-K summary
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Issuer:     Avid Bioservices, Inc. (—)
CIK:        0000704562
Form:       8-K/A
Filed at:   2025-02-05T23:59:59+00:00
Accession:  0001140361-25-003194
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 2.01, 3.01, 3.03, 5.01, 5.02, 5.03, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avid Bioservices acquired by GHO Capital and Ampersand for $12.50/share in all-cash deal valued at ~$1.1B
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/0001140361-25-003194-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/704562/000114036125003194/ef20042975_8ka.htm
  HTML page:      https://secwatch.observer/filing/0001140361-25-003194

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer