Avid Bioservices Declares Quarterly Dividend on Its Series E Convertible Preferred Stock
01 Dezember 2020 - 10:05PM
Avid Bioservices, Inc. (NASDAQ:CDMO) (NASDAQ:CDMOP), a dedicated
biologics contract development and manufacturing organization
(CDMO) working to improve patient lives by providing high quality
development and manufacturing services to biotechnology and
pharmaceutical companies, today announced that its Board of
Directors has declared a quarterly cash dividend payment on the
Company's 10.50% Series E Convertible Preferred Stock (the "Series
E Preferred Stock").
The quarterly dividend on the Series E Preferred
Stock is payable on January 4, 2021 to holders of record at the
close of business on December 14, 2020.
The quarterly dividend payment on the Series E
Preferred Stock will be $0.65625 per share, which is equivalent to
an annualized 10.50% per share, based on the $25.00 per share
stated liquidation preference, accruing from October 1, 2020
through December 31, 2020. The Series E Preferred Stock is listed
on the NASDAQ Capital Market and trades under the ticker symbol
"CDMOP".
About Avid
Bioservices, Inc.Avid
Bioservices is a dedicated contract development and
manufacturing organization (CDMO) focused on development and CGMP
manufacturing of biopharmaceutical drug substances derived from
mammalian cell culture. The company provides a comprehensive range
of process development, CGMP clinical and commercial manufacturing
services for the biotechnology and biopharmaceutical industries.
With 27 years of experience producing monoclonal antibodies and
recombinant proteins, Avid's services include CGMP clinical and
commercial drug substance manufacturing, bulk packaging, release
and stability testing and regulatory submissions support. For
early-stage programs the company provides a variety of process
development activities, including upstream and downstream
development and optimization, analytical methods development,
testing and characterization. The scope of our services ranges
from standalone process development projects to full development
and manufacturing programs through commercialization.
www.avidbio.com
Contacts:
Stephanie Diaz (Investors)
Vida Strategic Partners
415-675-7401
sdiaz@vidasp.com
Tim Brons (Media)
Vida Strategic Partners
415-675-7402
tbrons@vidasp.com
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