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Avid Bioservices Agrees To Be Acquired By GHO Capital Partners And Ampersand In $1.1B Transaction; Shareholders To Receive $12.50 Per Share In Cash

Author: Benzinga Newsdesk | November 06, 2024 06:07pm

The per share purchase price represents a 13.8% premium to Avid's closing share price of $10.98 on November 6, 2024, the last full trading day prior to the transaction announcement, and a 21.9% premium to the Company's 20-day volume-weighted average share price for the period ended November 6, 2024. This transaction equates to an enterprise value of approximately $1.1 billion, a 6.3x multiple to consensus FY2025E revenue.

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