Avid Bioservices Announces Expiration of Hart-Scott-Rodino Waiting Period for Pending Acquisition by GHO and Ampersand

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].