Avid Bioservices Inc (CDMO)

[Protector]

keep_trying, I think that behaviour of RONIN is in line with my statement that RONIN isn't at all interested in PPHM/AVID as a running bussiness but just as something that can be monetized while the PPHM PPS is largely under valuated.

Of course the latest letter to shareholders from Ronin now vilifies CEO King as among those needing replacement by Ronin candidates.

But to do that they need ABSOLUTE 100% Control and to GET AWAY with it they must make sure that everyone that could at some point testify that the assets have been sold largely under value, or everyone that could suggest or force an OPEN BIDDING allowing other parties would be gone.

RONIN will take one or two befriended parties (through there candidates on the BoD because they will stay FAR AWAY from it but as not being themselves on the BoD they can talk to other companies without restriction). Those befriended companies will in one way or another have an incentive to LOW-PRICE the assets and, by miracle, find candidates to buy/license/etc it.

That will be done in an IRREVERSIBLE WAY so that any shareholders actions (such as Dart or others reacting and trying to remove the BoD) will not matter. This is a MORE sophisticated and more dangerous form of activism as MOST PEOPEL don't see it coming and are sympathetic to it due to there adversity to ES, DP and CJ but don't see that in the process it is THEIR INVESTMENT that will suffer.

But hey, there are people that for emotional reasons have no problem shouting themselves in the foot. The EMO can for some be more gratifying then explaining to there wife and children why in the last straight line they helped an activist turn their investment into breadcrumb revenue.

PS: And AT THIS POINT RONIN knows they do NOT have the PPHM employees behind them, including higher management, Lytle, Shan, Shelly, etc so you may now expect some attack on those people too because they become a RISK in disclosing the hanky-panky during the breadcrumbs sell-out of PPHM/Avid assets.

AIMO