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].

Core Viewpoint - Avid Bioservices, Inc. is under investigation for potential violations of securities laws, prompting affected investors to reach out to the Schall Law Firm for assistance [1] Group 1 - The investigation is focused on possible securities law violations by Avid Bioservices, which may have implications for the company's financial standing and investor trust [1] - Affected investors are encouraged to contact the Schall Law Firm, indicating a potential class action or legal recourse for those impacted by the situation [1]

Core Viewpoint - The Schall Law Firm is inviting shareholders of Avid Bioservices, Inc. who have experienced losses to participate in an inquiry regarding potential securities fraud [1] Group 1 - The inquiry is focused on allegations of securities fraud involving Avid Bioservices, Inc. [1] - Shareholders who have incurred losses are encouraged to join the investigation [1] - The law firm aims to determine whether Avid Bioservices, Inc. engaged in any fraudulent activities that may have affected shareholder value [1]

Core Points - Avid Bioservices is urging stockholders to vote in favor of a pending transaction with GHO Capital Partners and Ampersand Capital Partners, which is expected to provide significant cash value to stockholders [1][4] - The transaction is set to be voted on during a Special Meeting scheduled for January 30, 2025, with eligible stockholders having been recorded as of December 11, 2024 [2][4] Transaction Details - The proposed transaction offers a 63.8% premium to Avid's closing share price on June 4, 2024, prior to the initial proposal from GHO and Ampersand [4] - The transaction's implied multiples surpass those of comparable publicly traded companies, indicating a strong valuation [4] - Avid's intrinsic value is assessed to be 24.9% higher than the midpoint of its discounted cash flow analysis based on a five-year plan [4] Board's Process - The Avid Board of Directors conducted a thorough process, initially rejecting two proposals from GHO and Ampersand before engaging in further discussions [4] - The Board involved Moelis to manage a competitive process that included outreach to 24 strategic and financial parties, resulting in two preliminary bids [4] Industry Context - The biologics manufacturing industry faces various challenges and opportunities that have been factored into market pricing prior to the sale announcement [4] - Avid has made strategic investments but requires additional funding to fully realize its growth potential [4] - Financial analyses indicate that Avid's growth prospects are below previous guidance and analyst consensus [4] Company Overview - Avid Bioservices specializes in biologics contract development and manufacturing, offering a range of services from process development to commercial manufacturing [6] - The company has over 30 years of experience in producing biologics, supporting both clinical and commercial needs [6]

Core Viewpoint - Avid Bioservices, Inc. is moving forward with a transaction involving GHO Capital Partners and Ampersand Capital Partners, which is expected to provide significant cash value to its stockholders and is set for a vote on January 30, 2025 [1][2][4]. Group 1: Transaction Details - The transaction offers a 63.8% premium to Avid's closing price on June 4, 2024, prior to the initial proposal from GHO and Ampersand [4]. - The implied multiples from the transaction exceed those of comparable publicly traded companies, indicating strong valuation [4]. - Avid's intrinsic value is assessed to have a 24.9% premium based on a discounted cash flow analysis aligned with management's five-year plan [4]. Group 2: Board Process and Recommendations - The Avid Board of Directors unanimously recommends that stockholders vote "FOR" the proposed transaction [3]. - The Board previously rejected two initial proposals from GHO and Ampersand before engaging in further discussions and outreach to other potential buyers [4]. - A competitive process was conducted, involving seven parties under NDA and resulting in two preliminary bids before final negotiations with GHO and Ampersand [4]. Group 3: Company Overview - Avid Bioservices specializes in biologics contract development and manufacturing, providing a range of services including CGMP clinical and commercial manufacturing [6]. - The company has over 30 years of experience in producing biologics and offers services from process development to full manufacturing programs [6].

Core Points - Avid Bioservices is moving closer to completing its acquisition by GHO Capital Partners and Ampersand Capital Partners, which is expected to deliver significant value to stockholders [1][7] - The transaction is anticipated to close in the first quarter of 2025, pending stockholder approval and other customary conditions [8] 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 [7][10] - The company has over 30 years of experience in producing biologics and offers a comprehensive range of services, including CGMP clinical and commercial manufacturing, process development, and regulatory submissions support [10] Transaction Details - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired, allowing the acquisition process to proceed [7] - Moelis & Company LLC is serving as the exclusive financial advisor, while Cooley LLP is providing legal counsel for Avid [9]

Core Viewpoint - Avid Bioservices is on track for acquisition by GHO Capital Partners and Ampersand Capital Partners, pending stockholder approval and customary closing conditions, with the transaction expected to occur in the first quarter of 2025 [1][2]. Company Overview - Avid Bioservices, Inc. (NASDAQ:CDMO) is a dedicated biologics contract development and manufacturing organization (CDMO) focused on providing high-quality development and manufacturing services to biotechnology and pharmaceutical companies [2][11]. - 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 [11]. Transaction Details - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act has expired concerning the acquisition agreement, indicating progress towards the transaction [2]. - Avid's CEO, Nick Green, expressed confidence that the transaction will deliver significant value to stockholders and encouraged them to vote in favor of the acquisition [10]. Proxy Statement and Stockholder Meeting - Avid has filed a proxy statement with the SEC for a special meeting of stockholders to consider the proposed transaction, urging stockholders to read the proxy statement and related documents for important information [11]. - The company has provided access to the preliminary and definitive versions of the proxy statement on its investor relations website and the SEC's website [11].