Avid Bioservices Inc (CDMO)

[Robert C Jonson]

"It makes all the sense in the world if Ronin is "friendly" with the board...ie...we want you to wait until the last moment so qwe can accumulate as much as possible on the slow and low.... "

If Ronin is convinced there will be an RS it makes no difference if they buy before it or afterwards. In fact, it might be cheaper for them to buy afterwards. Like westjitter, I see no reason for our BOD to wait if they think an RS is inevitable. It could be, though, that if they hope to have a deal finalized before the deadline, that it can't be done in time and the RS will take place. If the deal happens shortly thereafter, the RS could actually be the rare "neutral" event.

RCJ