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Avid Bioservices Announces Proposed Offering of Common Stock | ||
By: Nasdaq / GlobeNewswire - 14 Feb 2018 | Back to overview list |
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TUSTIN, Calif., Feb. 14, 2018 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP) today announced that it has commenced an underwritten public offering of its common stock. Avid Bioservices also intends to grant the underwriter a 30-day option to purchase from it up to an additional 15% of the shares of common stock offered in the public offering to cover over-allotments, if any. Avid Bioservices intends to use the net proceeds from the offering for the expansion of its contract manufacturing business and general corporate purposes. Wells Fargo Securities is acting as sole book-running manager. The shares described above are being offered by Avid Bioservices pursuant to a shelf registration statement on Form S-3 previously filed with and subsequently declared effective by the Securities and Exchange Commission (“SEC”). A preliminary prospectus supplement relating to the offering has also been filed with the SEC and is available on the SEC’s website at http://www.sec.gov. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Wells Fargo Securities, LLC, Attention: Equity Syndicate Department, 375 Park Avenue, New York, New York 10152, or by email at cmclientsupport@wellsfargo.com, or by telephone at (800) 326-5897. This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any offer, sale or solicitation of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful. About Avid Bioservices, Inc. Forward-Looking Statements Contacts: Tim Brons (Media) |
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Copyright 2018 Nasdaq / GlobeNewswire | Back to overview list |