Avid Bioservices, Inc. Provides Notice of Fundamental Change and Make-Whole Fundamental Change to Holders of its Convertible Notes in Connection with Completed Merger
1. Avid announced a Fundamental Change due to a recent merger. 2. Note holders can demand cash repurchase by March 12, 2025. 3. Conversion rights for Notes are affected by this merger. 4. Avid's shares now convert to cash at $12.50 after the merger. 5. The transfer of notes is subject to specific procedures outlined in the Notice.