SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
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|Item 7.01||Regulation FD Disclosure.|
Avid Bioservices, Inc. (“Avid”) is aware of media reports indicating a possible liquidity concern at Silicon Valley Bank (“SVB”) and the appointment of the Federal Deposit Insurance Corporation as receiver. Avid does not hold any cash or cash equivalents at SVB and it does not have any banking relationship with SVB.
The information in this Item 7.01 is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Item 7.01 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended.
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
|AVID BIOSERVICES, INC.|
|Date: March 10, 2023||By:||/s/ Daniel R. Hart|
|Daniel R. Hart|
|Chief Financial Officer|