Avid Bioservices Inc (CDMO)

[keep_trying]

Corporal, weird? I observe the communication from Ronin regarding King has shifted between their first communication to shareholders and Ronin's latest. King was vilified in the latest Ronin note, citing lack of experience and independence issues with employee King being on the PPHM Board. Yet, Steve King was the manager in the lead role for Avid development, is listed on key PPHM patents and is positioned as the PPHM CEO, a common BOD position for companies. Hence, my observed red flag.

Perhaps, Ronin is considering how to deal with the prospect that Lias and the two other recent PPHM Board appointees receive shareholder support as newcomers, so Ronin needs to argue that King needs to go, along with the three non-employee current BOD members? Lias has already been cited in Ronin communications as being targeted to be let go as Avid President if a Ronin Board majority is elected, so Lias being reelected to the BOD by shareholders is problematic for Ronin's agenda. I suppose that is why Ronin is positioning their proxy card to not allow for parsing out support for individual Ronin candidates?

Anyway, I am considering this and other dynamics unfolding as I consider how I want to vote my proxy.

Best wishes and IMO.
KT