Avid Bioservices to repurchase, repay 1.25% exchangeables due 2026

By Wendy Van Sickle

Columbus, Ohio, March 6 – Avid Bioservices Inc. plans to repurchase for cash a portion of its 1.25% exchangeable senior notes due 2026 in privately negotiated transactions and to repay in full any remaining outstanding 2026 exchangeable notes using proceeds of an offering of $160 million five-year convertible senior notes, according to a news release.

Avid Bioservices is a Tustin, Calif.-based biologics contract development and manufacturing organization.

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