ROTH Capital Partners Acts as Co-Manager for
Avid Bioservices, Inc. (CDMO) in its
$23.1 Million Follow-On


For more information please contact:

Investment Banking
James Antonopoulos
Managing Director
Co-Head of Healthcare
Investment Banking
(646) 358-1906

Eric B. Cheng
Managing Director
Co-Head of Healthcare
Investment Banking
(646) 358-1901
Equity Capital Markets
Aaron Gurewitz
Head of Equity
Capital Markets
(949) 720-5703
Nazan Akdeniz
Senior Vice President
(949) 720-5740
Lou Ellis
Senior Vice President
(949) 720-5739

Transaction Information
Avid Bioservices, Inc. (NASDAQ:CDMO) has closed a underwritten public offering of 10,294,445 shares of its common stock, which includes the sale of 1,294,445 shares pursuant to the partial exercise of the over-allotment option granted to the underwriters. The shares were sold at a price of $2.25 per share, resulting in the gross proceeds from this offering to Avid Bioservices, Inc. of approximately $23.1 Million. Avid Bioservices intends to use the proceeds from the offering for the expansion of its contract manufacturing business and general corporate purposes.

ROTH Capital Partners acted as co-manager for the offering.

About Avid Bioservices, Inc
Avid Bioservices is a contract development and manufacturing organization (CDMO) focused on development and manufacturing of biopharmaceutical products derived from mammalian cell culture. The company provides process development, clinical and commercial manufacturing services for the biotechnology and biopharmaceutical industries.  For more information, please visit
(Source: Company Press Release | 2/15/18)

About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit

Date of Announcement: 2/28/18

The material, information and  facts discussed in this announcement other than the information regarding ROTH Capital Partners, LLC ("ROTH") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be reproduced in any form without the express written permission of ROTH. Copyright 2018.