| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | CDMO | Common Stock, $0.001 par value | Disposed to Issuer | -50.8K | -100% | 0 | Feb 5, 2025 | Direct | F1, F2 |
| Type | Sym | Class | Transaction | Value $ | Shares | Change % | * Price $ | Shares After | Date | Underlying Class | Amount | Exercise Price | Ownership | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| transaction | CDMO | Restricted Stock Units | Disposed to Issuer | -7.79K | -11.84% | 58K | Feb 5, 2025 | Common Stock | 7.79K | $0.00 | Direct | F3, F4 | ||
| transaction | CDMO | Restricted Stock Units | Disposed to Issuer | -58K | -100% | 0 | Feb 5, 2025 | Common Stock | 58K | $0.00 | Direct | F3, F5 | ||
| transaction | CDMO | Performance Stock Units | Disposed to Issuer | -881 | -1.12% | 77.5K | Feb 5, 2025 | Common Stock | 881 | $0.00 | Direct | F6, F7 | ||
| transaction | CDMO | Performance Stock Units | Disposed to Issuer | -77.5K | -100% | 0 | Feb 5, 2025 | Common Stock | 77.5K | $0.00 | Direct | F6, F8 |
Matthew R. Kwietniak is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.
| Id | Content |
|---|---|
| F1 | Represents shares of common stock that were disposed of at the effective time (the "Effective Time") of the merger (the "Merger") of Space Mergerco, Inc. ("Merger Sub") with and into Avid Bioservices, Inc. (the "Issuer") pursuant to the Agreement and Plan of Merger, dated as of November 6, 2024 (the "Merger Agreement"), by and among the Issuer, Space Finco, Inc., and Merger Sub. |
| F2 | At the Effective Time, each outstanding share of common stock was cancelled and converted into the right to receive a cash payment per share of $12.50, without interest, subject to the terms and conditions of the Merger Agreement (the "Merger Consideration"). |
| F3 | Represents restricted stock units ("RSUs") that were disposed of at the Effective Time of the Merger of Merger Sub with and into the Issuer pursuant to the Merger Agreement, by and among the Issuer, Space Finco, Inc., and Merger Sub. |
| F4 | At the Effective Time, each fully vested RSU was cancelled and converted solely into the right to receive a cash payment of $12.50 per share of common stock subject to such vested RSU, without interest, subject to the terms and conditions of the Merger Agreement. |
| F5 | At the Effective Time, each unvested RSU was cancelled and converted solely into the right to receive a cash payment of $12.50 per share of common stock subject to such unvested RSU, without interest, subject to the terms and conditions of the Merger Agreement. |
| F6 | Represents performance stock units ("PSUs") that were disposed of at the Effective Time of the Merger of Merger Sub with and into the Issuer pursuant to the Merger Agreement, by and among the Issuer, Space Finco, Inc., and Merger Sub. |
| F7 | At the Effective Time, each fully vested PSU was cancelled and converted solely into the right to receive a cash payment of $12.50 per share of common stock subject to such vested PSU, without interest, subject to the terms and conditions of the Merger Agreement. |
| F8 | At the Effective Time, each unvested PSU was cancelled and converted solely into the right to receive a cash payment of $12.50 per share of common stock that such unvested PSU would settle for at the greater of target performance and actual performance (determined as of the end of the fiscal quarter immediately preceding the Effective Time, without interest, subject to the terms and conditions of the Merger Agreement. |
The foregoing descriptions in the footnotes to this Form 4 are qualified in their entirety by reference to the terms of the Merger Agreement. In the event of any conflict between the descriptions above and the terms set forth in the Merger Agreement, the terms set forth in the Merger Agreement shall control.