Avid Bioservices, Inc.

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Company Name	Avid Bioservices, Inc.
Stock Symbol	CDMO

On March 6, 2024, Avid disclosed that it had received an acceleration notice from a holder of its 1.250% Exchangeable Senior Notes due 2026. The holder further claimed that the accelerated amount, inclusive of principal and interest due and payable, as of February 29, 2024, the date of acceleration, was approximately $146.0 million and accrues interest at 2.75% per annum until paid in full. The Company also disclosed that it may be unable to timely file its first quarter 2024 financial results.

On this news, Avid’s stock price fell $2.69, or 30.6%, to close at $6.10 per share on March 7, 2024, thereby injuring investors.

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If you suffered a loss on your Avid Bioservices, Inc. investments or would like to inquire about joining an action to recover your loss under the federal securities laws, please complete the form below. Please note that submission of this form does not by itself form an attorney-client relationship nor does filing out this form mean you have joined any lawsuit.

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