Avid Bioservices Inc (CDMO)

[stoxx]

Thank you sir,

I believe the CTOs are tied to 13F

https://www.sec.gov/answers/form13f.htm

One particularly common type of CT Request for information reported on Form 13F, under the FOIA category of Con dential Financial Information, concerns information that would reveal an Institutional Manager’s ongoing program of acquisition or disposition of a Reportable Security (Ongoing Acquisition/Disposition Program).

Discuss any other factors that may be relevant to the confidential treatment period (for example, the amount of capital invested or available for investment, market price of the Reportable Security, the Institutional Manager’s existing holdings, target size (if any) of the position, market capitalization, and trading volume).

So, theoretically one that is invested can request a CTO and acquire (double or triple) position using a CTO per SEC guidelines.

https://www.sec.gov/divisions/investment/guidance/im-guidance-2013-08.pdf