Avid Bioservices Inc (CDMO)

[Protector]

Hypi, under the assuption below:

Biopharm if PPHM wanted to keep Ronin from acquiring a larger stake in the company, while prohibiting a possible take over then running the ATM is a good strategy. It continually reduces the % stake that Ronin owns. In fact, without the ATM running Ronin would have 10%+ in stock, but it looks like 8% and even could be lower as we don't know what has been diluted recently.

Ronin should do EVERYTHING POSSIBLE to bring us above 1$ for 10 consecutive days. Doing so would keep the number of authorised shares compared to outstanding shares X times lower. So doing handicapping PPHM from deluting Ronin.

Ronin has brought the PPS from 0.28 to 0.70$ range, at least I think his filling was the based driver of that. He must have spend about 12-15 mil$ doing so to acquire about 25Mil PPHM shares.

He made 200Mil$ on his previous investment (were he was for about 10 years invested and participating - Ronin has only 4 stocks in portfolio of which PPHM is one since this year). So if he throw another 15 Mil$ at it he will bring us over 1$ easy and keep us there. He then will have reduced PPHM's ATM possibilities by dividing them by 2 to 7, depending on what RS, IF ANY, PPHM would have done.

And don't tell me Ronin/Stafford III wouldn't know that. So all this PPHM ATMing into Ronin Bids to dilute him is nonsense IMO. No BETTER and CHEAPER we for PPHM and ALL OF US SHAREHOLDERS then to pull the Poison Pill on him if he advertises hostile intentions. It has been design for that purpose and actually prevents that PPHM would have to do WHATEVER on the open market to keep a party from acquiring PPHM shares over 15%. AIMO.