Replies to post #271080 on Avid Bioservices Inc (CDMO)

[biopharm]

Bio, THEY ALREADY STATED that shelf shares will not be reverse split.

My post included the direct quote from the proxy that stated this.

No amount of letters will change this.

Tampa, I think you fail to understand the terms "outstanding shares" vs "authorized shares"

No where in the proxy does it say that "authorized shares" will be reverse split, as all outstanding shares would be (IF the BOD takes action for a RS).

It spells it out very clearly, the authorized shares are not being split/reduced at all. It is telling you your common shares are being reduced, NOT that the authorized shares are being reduced.

------------------------------------

..taken from page 13 of the SEC filing

Although the Reverse Split will not have any dilutive effect on our stockholders, the proportion of shares owned by our stockholders relative to the number of shares authorized for issuance will decrease. As a result, the additional authorized shares of common stock will be available for issuance at such times and for such purposes as the Board of Directors may deem advisable without further action by our stockholders, except as required by applicable laws and regulations. We do not have any present plan or intention to issue the additional shares of authorized but unissued common stock that would become available as a result of the proposed Reverse Split.

http://ir.peregrineinc.com/secfiling.cfm?filingID=1019687-16-7374&CIK=704562

[JJ1223]

Bio, THEY ALREADY STATED that shelf shares will not be reverse split.

If they do not reverse the shelf shares, they are taking back a percentage of the company from current shareholders at "no cost", only to sell the percentage gained to new buyers.
At this point, it becomes a CA waiting to happen, and ATM sales could be held up for years until it is resolved.