Avid Bioservices Inc (CDMO)

[cjgaddy]

PPHM - O/S Shares History (’06–curr.) – a/o 9-7-12, shares outstanding = 104,191,176, up 17,120 since 7-13-12, and nochg. since 8-16-12.

4-30-06 35,876,438
1-31-07 39,222,440
4-30-07 39,222,440
7-6-07 45,233,123
7-31-07 45,242,123
10-31-07 45,242,123
1-31-08 45,242,123
4-30-08 45,242,123
7-31-08 45,242,123
10-31-08 45,242,123
1-31-09 45,242,123
4-30-09 45,537,711
7-10-09 47,392,883
7-31-09 47,393,783
10-31-09 48,869,563 +1,475,780
1-31-10 50,903,404 +2,033,841
4-30-10 53,094,894 +2,191,490
6-21-10 54,388,917 +1,294,023 (6-22-10 ATM/mlv Form424)
7-9-10 55,069,449 +475,987 (4-30-10 10K iss. 7-14-10)
7-31-10 55,784,955 +715,506
10-31-10 59,220,742 +3,435,787
11-30-10 63,932,353 +4,711,611 (10-31-10 10Q iss. 12-9-10)
12-15-10 64,404,097 +471,744 (12-17-10 S-3: $75M Shelf Reg.)
1-31-11 66,813,419 +2,409,322
2-28-11 67,885,811 +1,072,392 (1-31-11 10Q iss. 3-11-11)
4-30-11 69,837,142 +1,951,331
7-8-11 71,069,858 +1,232,716 (4-30-11 10K iss. 7-14-11)
8-22-11 72,704,647 +1,634,789 (Proxy iss. 8-26-11)
8-31-11 73,284,016 +579,369 (424B5 iss. 9-2-11)
9-8-11 79,536,268 +6,252,252 (Roth Sale to 3 Inst’s @ $1.11/sh.)
10-31-11 82,638,201 +3,101,933
12-9-11 86,788,817 +4,150,616 (10-31-11 10Q iss. 12-12-11)
1-31-12 93,146,226 +6,357,409
2-29-12 98,873,172 +5,726,946 (1-31-12 10Q iss. 3-9-12)
4-30-12 101,421,365 +2,548,193
7-13-12 104,174,056 +2,752,691 (4-30-12 10K iss. 7-16-12)
7-31-12 104,178,431 +4,375 (7-31-12 10Q iss. 9-10-12)
8-16-12 104,191,176 +12,745** (prelim. proxy 14A http://tinyurl.com/c48bvof )
9-7-12 104,191,176 *nochg* (7-31-12 10Q iss. 9-10-12)

**8-15-12: CEO STEVE KING'S 29MIN. TALK AT WEDBUSH/NYC http://tinyurl.com/8mhrtld
…SK: "We've laid out our strategy for financing the company; we've not been raising money thru the capital markets in any way. We're not currently planning on going out for, nor have we been actively involved in any other fund-raising activities. Right now, our stated goal is to pursue a debt-arrangement - with an asset like Avid Bioservices, we can get very preferential rates on raising debt-type funding right now, which we feel is the least-dilutive for the company. In fact, our stated goal is to raise $20-30mm thru a debt facility between now and out next earnings call on Sept. 10, 2012. With that capital in the bank, we’ll then will have a 1yr+ runway. We believe that will get us thru the partnering discussions, and then with a partner on board, then certainly we expect that’ll bring in the capital needed to move the company forward for what should hopefully be several years time period. So, that’s our goal – we have a nice, clean cap structure, minimal # of warrants, stock options – there’s no convertible debt on the books, so we think we’re in good shape as we continue to move the company forward into those successful partnering discussions.”

O/S WARRANTS & STOCK-OPTIONS A/O 7-31-2012:
From the 7-31-12 10-Q (pg. 10 & 11):
…WARRANTS: As of July 31, 2012, we had Warrants Outstanding to purchase up to 219,967 shares of our common stock at an exercise price of $1.48/share with an expiration date of Dec.19, 2013. On Aug.30, 2012, we issued warrants to purchase an aggregate of 273,280 shares at an exercise price of $2.47/share with an exp. date of August 30, 2018. These warrants were issued in connection with the [$30mm] loan & security agreement we entered into on Aug.30, 2012, as further discussed in Note 12.
[Thus, a/o 8-30-12 Total Warrants = 493,247 @ avg. exercisable price = $2.03.]
...STOCK OPTIONS: 11,599,017 options exercisable & expected to vest, with a wgt.avg. exercise price of $2.03.

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Latest 10K 4-30-12 iss. 7-16-12: http://tinyurl.com/79o57b2 PR: http://tinyurl.com/c8nytow (Cash 4-30-12 $18.0mm)
Latest 10Q 7-31-12 iss. 9-10-12 http://tinyurl.com/9sd8nua (Cash 7-31-12 $19.0mm)
ALL SEC filings for PPHM: http://tinyurl.com/6d4jw8
PPHM's Corp. Bylaws (a/o 12-21-07): http://www.secinfo.com/dV3p8.u4av.d.htm
Poison Pill adopted 3-16-06: http://tinyurl.com/yvypvh - 44-pg SEC filing: http://tinyurl.com/5m57ut

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A-T-M (At-The-Market) Sales 3-2009 - 6-30-12 ($89,674,000gr./51,785,558sh=$1.73/sh): http://tinyurl.com/bnd6o7d
…New ATM Agreement (up to $75mm) with MLV announced 12-29-10/8K: http://tinyurl.com/2a6w76g
...3-9-12: PPHM files shelf to sell up to $150mm common stock, warrants, S3: http://tinyurl.com/7dl7pjm