Replies to post #160480 on Avid Bioservices Inc (CDMO)

[EYEBUYSTOX]

I am sticking with my idea that the conversion point on this preferred offering will be between $3-4/ share.

Just curious. Is it your idea or something more concrete? You seem pretty well connected with the financier syndicate types. I'm betting $3.50 is a good number for the conversion, too.

But after looking at the INHX preferred/common prospectus filed Sept. 16, 2011 and never used (from what I could tell) prior to BMY's acquisition, I think the more important number is HOW MANY preferred shares are issued. And I agree with you that it won't be fully subscribed.

I see this as a negotiation tactic. The prospectus states record holders will be noted as of March 21, 2014 so I guess we'll know that number by then + a few days. There's just no way a partner would let this whole deal come and go without getting a piece. My gut tells me there's little to none of the preferred shares that ever get issued.

If the deal gets fully subscribed I think we can all kiss a partnership goodbye until phase 3 data is released IMO.