Avid Bioservices Inc (CDMO)

[geocappy1]

wxcbs

No, I would say somewhat of an improvement from days of old which you should remember. Obviously, until they get a partner they need money to operate, research and development, etc.

Old days they would do a pipe 15% below market + fees to a group who had shorted millions of shares prior to the PIPE.

Today they either sale shares at the current market (no discount) or sell pphmp preferred shares which on the day sold are technically some 70% above market. The above market premium is increasingly reduced by an interest charge depending how long it takes for them to redeem the shares or increase the pps forcing the holders to convert.

Although I do not like the dilution and would prefer a partner (which can also be dilution) I do prefer what they have done to days of old.