secwatch.observer — SEC 8-K summary
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Issuer:     Avid Bioservices, Inc. (—)
CIK:        0000704562
Form:       8-K
Filed at:   2024-03-20T23:59:59+00:00
Accession:  0001683168-24-001561
Event type: regulatory
Sentiment:  negative
Materiality: 0.75
Item codes: 3.01
LLM model:  deepseek-v4-flash:cloud@v2

Avid Bioservices receives Nasdaq delisting notice for late 10-Q due to restatement
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- Received Nasdaq notice on March 19, 2024, for non-compliance with Rule 5250(c)(1) due to late Form 10-Q for period ended Jan 31, 2024.
- Non-compliance triggered by need to restate prior financials on classification of 1.250% Exchangeable Senior Notes due 2026 after default.
- Has 60 days to submit compliance plan (by May 20, 2024); Nasdaq may grant up to 180-day extension to September 16, 2024.
- Company intends to file the Form 10-Q as promptly as reasonably practicable.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/704562/000168316824001561/0001683168-24-001561-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/704562/000168316824001561/avid_8k.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-001561

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