Core Insights - GHO Capital Partners and Ampersand Capital Partners have successfully completed the acquisition of Avid Bioservices for approximately $1.1 billion, marking GHO's first public to private deal [1][4][7] - Avid Bioservices specializes in biologics Contract Development and Manufacturing Organization (CDMO) services, providing full lifecycle capabilities from concept to commercial supply [2][9] - The acquisition aims to leverage GHO and Ampersand's expertise in the CDMO sector to support Avid's growth, enhance service offerings, and expand geographic reach [3][4][10] Company Overview - Avid Bioservices has made significant investments in its state-of-the-art facilities and expertise in bioprocess optimization, analytical testing, and regulatory compliance, positioning itself as a leader in the biopharmaceutical development and manufacturing sector [2][9] - The company offers a comprehensive range of services, including CGMP clinical and commercial manufacturing, bulk packaging, and regulatory submissions support, with over 30 years of experience in producing biologics [9] Investment Strategy - GHO Capital's strategy focuses on expanding technological capabilities and supporting transatlantic expansion across the CDMO value chain, from early-stage development to commercial manufacturing [3] - Ampersand Capital Partners, with $3 billion in assets under management, is dedicated to growth-oriented investments in the healthcare sector, leveraging its private equity and operating experience to build value [10]

Group 1 - Avid Bioservices, Inc. has received stockholder approval for its transaction with GHO Capital Partners LLP and Ampersand Capital Partners [1][2] - The company anticipates closing the transaction in the coming days, as all closing conditions have been met and regulatory approvals obtained [2] - Avid Bioservices is a dedicated biologics contract development and manufacturing organization, providing a comprehensive range of services for biotechnology and biopharmaceutical industries [3] Group 2 - The company has over 30 years of experience in producing biologics, offering services that include CGMP clinical and commercial drug substance manufacturing, bulk packaging, and regulatory submissions support [3] - Avid's services range from standalone process development projects to full development and manufacturing programs through commercialization [3]

Core Points - Avid Bioservices is in the process of a transaction with GHO Capital Partners and Ampersand Capital Partners, which is expected to deliver significant, immediate, and certain cash value to stockholders [1][6] - The transaction has received recommendations from leading independent proxy advisory firms, ISS and Glass Lewis, to vote in favor of the deal [3][6] - Avid's Board of Directors conducted a robust process to maximize stockholder value, including engaging multiple strategic and financial parties [7][6] Company Overview - Avid Bioservices is a dedicated biologics contract development and manufacturing organization (CDMO) that provides high-quality development and manufacturing services to biotechnology and pharmaceutical companies [1][11] - The company has over 30 years of experience in producing biologics and offers a comprehensive range of services, including CGMP clinical and commercial manufacturing [11] Transaction Details - The Special Meeting for stockholders to vote on the transaction is scheduled for January 30, 2025, with eligible stockholders as of December 11, 2024 [2] - The proposed transaction offers a compelling valuation with a significant premium of 63.8% over the company's closing price of $7.63 on June 4, 2024, and a premium of 24.9% compared to the trading multiples of comparable publicly traded companies [4][6] - The transaction is seen as a de-risking move for Avid's future as a standalone company amid industry-wide uncertainties [5][6] Voting and Advisory - The Avid Board of Directors unanimously recommends that stockholders vote "FOR" the proposed transaction [9] - Stockholders are encouraged to vote through various methods, including online, by phone, or by returning the proxy card [8]

Core Viewpoint - Avid Bioservices, Inc. has received recommendations from leading independent proxy advisory firms ISS and Glass Lewis to vote "FOR" the proposed transaction with GHO Capital Partners LLP and Ampersand Capital Partners, indicating a favorable outlook for stockholders [1][2]. Company Overview - Avid Bioservices is a dedicated biologics contract development and manufacturing organization (CDMO) that provides high-quality development and manufacturing services to biotechnology and pharmaceutical companies [1][5]. - The company has over 30 years of experience in producing biologics and offers a comprehensive range of services including CGMP clinical and commercial drug substance manufacturing, bulk packaging, and regulatory submissions support [5]. Transaction Details - The transaction with GHO and Ampersand is viewed as providing a premium value for Avid stockholders, with ISS noting that the sales process was thorough and the cash consideration offers liquidity and certainty of value [2]. - The Avid Board of Directors has unanimously recommended that stockholders vote "FOR" the proposed transaction [3]. Advisory Information - Moelis & Company LLC is serving as the exclusive financial advisor to Avid, while Cooley LLP is providing legal counsel [4].

Avid Bioservices, Inc. Is Being Investigated For Securities Law Violations And Affected Investors Are Urged To Contact The Schall Law Firm ...

The Schall Law Firm Invites Shareholders With Losses To Join An Inquiry Into Avid Bioservices, Inc. For Securities Fraud ...

Avid Urges Stockholders to Vote FOR the Pending Transaction TODAYTUSTIN, Calif., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO) (“Avid” or the “Company”), a dedicated biologics contract development and manufacturing organization (“CDMO”) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today posted an investor presentation in connection with its pending transaction with GHO Capital Partne ...

TUSTIN, Calif., Jan. 08, 2025 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) ("Avid" or the "Company"), a dedicated biologics contract development and manufacturing organization ("CDMO") working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today posted an investor presentation in connection with its pending transaction with GHO Capital Partners LLP ("GHO") and Ampersand Capital Partners ("Ampersand") on its ...

TUSTIN, Calif., Dec. 30, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ: CDMO) (“Avid” or the “Company”), a dedicated biologics contract development and manufacturing organization (“CDMO”) working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the expiration of the waiting period under the Hart-Scott-Rodino (“HSR”) Antitrust Improvements Act of 1976 with respect to the previously announced agre ...

TUSTIN, Calif., Dec. 30, 2024 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) ("Avid" or the "Company"), a dedicated biologics contract development and manufacturing organization ("CDMO") working to improve patient lives by providing high quality development and manufacturing services to biotechnology and pharmaceutical companies, today announced the expiration of the waiting period under the Hart-Scott-Rodino ("HSR") Antitrust Improvements Act of 1976 with respect to the previously announced agree ...