New York, NY. Avid Bioservices, Inc. (NASDAQ CM: CDMO) raised $23.2 million in a firm commitment underwritten public offering of its common stock. Avid Bioservices, a contract development and manufacturing organization, plans to use the offering proceeds to expand its manufacturing business for the biotechnology and biopharmaceutical industries.
Nixon Peabody served as underwriter’s counsel representing Wells Fargo Securities, LLC, as the sole bookrunner, and H.C. Wainwright LLC and Roth Capital Partners LLC as co-managing underwriters. The deal team was led by Nixon Peabody securities partner Ted Ghorra, and included associate Tevia Pollard.