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

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]