Avid Recommends Stockholders Follow Recommendations of ISS and Glass Lewis and vote FOR the Transaction with GHO and Ampersand

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].