Replies to post #231552 on Avid Bioservices Inc (CDMO)

[biopharm]

thanks nuke661!

This is something that many here may already know, but I was under the impression that "ALL" stockholders could be classified as OBO or NOBO, and it seems I was wrong. It would be interesting to find out the ratio of stock ownerships from Broadridge Transfer Agent, but then again.... I'm sure Peregrine found out immediately after they switched to them and led to the latest, masterpiece of a proxy.

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There are two forms of stock ownership in the U.S.: record and beneficial.
...
...

Each beneficial holder is further classified as either a
non-objecting beneficial owner (NOBO) or an objecting beneficial owner (OBO). An OBO is a beneficial holder who has instructed its intermediary not to divulge the beneficial holder’s identity, address or stock position to the issuer; whereas, a NOBO permits the intermediary to disclose this information. OBOs are reported to represent approximately 75% of shares held in street name, which means companies generally do not know (and cannot obtain) the identities and contact information of the holders of a significant percentage of their shares.

http://www.paulhastings.com/assets/publications/1385.pdf

... cannot obtain the identities and contact information... unless they must vote.