Avid Bioservices, Inc. (NASDAQ: CDMO), a renowned biologics contract development and manufacturing organization (CDMO), revealed the successful pricing of $160 million aggregate principal amount of 7.00% Convertible Senior Notes due 2029 (the 2029 Notes), as announced on March 6, 2024. In an effort to raise capital, the company entered into private placement purchase agreements with various qualified institutional buyers, in accordance with Rule 144A under the Securities Act of 1933, as amended. The offering, subject to customary closing conditions, is expected to conclude on March 12, 2024.