Replies to post #287132 on Avid Bioservices Inc (CDMO)

[EndoTarget]

From last cc we had silences and crickets about Exosomes... Would that be different on March 7th?

[InternetForumUser]

If a Change of Control occurs, then the Corporation or the acquiring entity in such Change of Control may, at its option, redeem the Series E Preferred Shares, in whole but not in part, within 120 days after the date on which the Change of Control occurs, for cash at a redemption price equal to the Liquidation Amount, plus all accumulated accrued and unpaid dividends thereon (whether or not earned or declared) to, but excluding, the Call Date (subject to paragraph (h) of Section 5), without interest.

“Liquidation Amount” shall mean $25.00 per Series E Preferred Share (as adjusted for any stock split, stock dividend, recapitalization, reclassification or any similar transaction).

So if an owner does not have the PPHM Shares converted and the PPS is at $6/share.. They would still only get $25/PPHMP Share versus the $49.98/PPHM Share if they had converted.