Preferred Stock Channel
Avid Bioservices Inc | 10.50% Series E Convertible Preferred Stock (CDMOP)

Prospectus excerpt:  Peregrine Pharmaceuticals, Inc. is offering 700,000 shares of our 10.50% Series E Convertible Preferred Stock, which we refer to in this prospectus supplement as the Series E Preferred Stock. This is an original issuance of the Series E Preferred Stock. We are also registering up to 20,300,000 shares of our common stock, par value $0.001 per share, which we refer to as common stock in this prospectus supplement (up to 23,345,000 shares of our common stock assuming exercise in full of the overallotment option described below). Such shares of common stock may be issued as a result of the conversion of the Series E Preferred Stock as more fully described herein. Our common stock is currently listed on The NASDAQ Capital Market, or NASDAQ, under the symbol ˘PPHM.÷ We will bear all costs associated with the offering.

Full Prospectus PDF », CDMO Page »

Call Date:2/11/2017 (Now Trading Post Call Date)
Conversion Ratio:$3
Shares Offered:700,000
Liquidation Preference:$25
Recent Market Price:$26.48
Premium to Liquidation Preference:
(More Preferreds Trading at a Premium »)
$1.48 (5.92%)
Annualized Dividend:2.625
Recent Ex-Date:12/13/2019
Current Yield:9.91%
Original Coupon:10.50%
Pay Period:Quarterly
Pay Dates:1-Jan, 1-Apr, 1-Jul, 1-Oct
Avid Biosciences is a contract development and manufacturing organization that provides a range of services from process development to Current Good Manufacturing Practices (CGMP) commercial manufacturing focused on biopharmaceutical products derived from mammalian cell culture. Co.'s services include CGMP clinical and commercial product manufacturing, purification, bulk packaging, stability testing and regulatory submissions and support. Co. also provides a variety of process development services, including cell line development and optimization, cell culture and feed optimization, analytical methods development and product characterization.

Preferred: CDMOP

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Name:  Avid Bioservices Inc
Sector:  Biotechnology
Number of ETFs Holding CDMO:  15 (see which ones)
Total Market Value Held by ETFs:  $30,184,761
Total Market Capitalization:  $407,000,000
% of Market Cap. Held by ETFs:  7.42%

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