The convertible notes are due 2029

Davis Polk advised the sole placement agent in connection with a section 4(a)(2) private placement by Avid Bioservices, Inc. of $160 million aggregate principal amount of its 7.00% convertible senior notes due 2029.

Headquartered in Orange County, California, Avid Bioservices is a dedicated contract development and manufacturing organization (CDMO) that provides a comprehensive range of services from process development to Current Good Manufacturing Practices (CGMP) clinical and commercial manufacturing of biologics for the biotechnology and biopharmaceutical industries.

The Davis Polk corporate team included partner Alan F. Denenberg and associate Michael Kostukovsky. All members of the Davis Polk team are based in the Northern California office.

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