Avid Bioservices Inc (CDMO)

[exwannabe]

peregr, there are no favorable conversion terms on PPHMP.

The change of control terms allow PPHMP to convert into AT MOST $25 worth of shares at the then current market value. The cap that people keep posting LIMITS this amount and thus yields LESS shares. $25 is the face value of the PPHMP, so one could take cash and buy PPHM for the same effect.

I do not have the numbers at hand, but IIRC Dart bought PPHMP direct from PPHM, but at the then market price. He received no special deal.

I do not understand what is triggering the comment about Dart buying preferred. He did so 2(?) years ago, had nothing to do with Ronin. I would take a f'ing wild guess that he liked 12.5% annual return.