Action required: Please refresh your browser
We have recently implemented some changes that require a hard refresh of your browser: Please hold down the CTRL-key and press the F5 key.
After a successful hard refresh, this message should not appear anymore.
More details about this topic are available here »
Avid Bioservices Announces Pricing of Public Offering of Common Stock | ||
By: Nasdaq / GlobeNewswire - 15 Feb 2018 | Back to overview list |
|
TUSTIN, Calif., Feb. 15, 2018 (GLOBE NEWSWIRE) -- Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP) today announced the pricing of an underwritten public offering of 9,000,000 shares of its common stock at a price to the public of $2.25 per share. The gross proceeds from this offering are expected to be $20,250,000, before deducting underwriting discounts and commissions and estimated offering expenses payable by Avid Bioservices. The offering is expected to close on or about February 20, 2018, subject to customary closing conditions. Avid Bioservices has also granted the underwriters a 30-day option to purchase up to 1,350,000 additional shares of its common stock at the public offering price, less the underwriting discounts and commissions. 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. H.C. Wainwright & Co. and Roth Capital Partners are acting as co-managers. The shares described above are being offered by us 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 CONTACT: Contacts: Stephanie Diaz (Investors) Vida Strategic Partners 415-675-7401 sdiaz@vidasp.com Tim Brons (Media) Vida Strategic Partners 415-675-7402 tbrons@vidasp.com |
||
|
||
Copyright 2018 Nasdaq / GlobeNewswire | Back to overview list |