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Avid Bioservices ( (CDMO) ) has provided an update.
On January 30, 2025, Avid Bioservices held a special meeting of stockholders where they approved a merger agreement with Space Finco and Space Mergerco, resulting in Avid becoming a wholly owned subsidiary of Space Finco. The stockholders also approved an advisory compensation proposal related to the merger, and all closing conditions have been met, with the transaction expected to close soon. This merger, supported by GHO Capital Partners and Ampersand Capital Partners, aims to deliver significant cash value to Avid’s stockholders, potentially impacting the company’s operations and positioning within the industry.
More about Avid Bioservices
Avid Bioservices, Inc. is a dedicated biologics contract development and manufacturing organization (CDMO) that provides high-quality development and manufacturing services to biotechnology and pharmaceutical companies. With over 30 years of experience, Avid specializes in CGMP clinical and commercial manufacturing of biologics, including process development, drug substance manufacturing, bulk packaging, and regulatory submissions support.
YTD Price Performance: 0.97%
Average Trading Volume: 2,151,648
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $795.1M
For a thorough assessment of CDMO stock, go to TipRanks’ Stock Analysis page.
