Item 8.01 Other Events.

On June 3, 2020, Avid Bioservices, Inc. (the "Company") issued a press release announcing the declaration by the Company's Board of Directors of a quarterly cash dividend payment of $0.65625 per share (the "Dividend") on the Company's 10.50% Series E Convertible Preferred Stock (the "Series E Preferred Stock"), accruing from April 1, 2020 through June 30, 2020. The Dividend equates to an annualized 10.50% per share of Series E Preferred Stock based on the $25.00 per share stated liquidation preference. The Dividend on the Series E Preferred Stock is payable on July 1, 2020 to holders of record at the close of business on June 15, 2020. A copy of the press release is filed hereto as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits. The following material is filed as an exhibit to this Current Report on Form 8-K:





Exhibit

Number



99.1      Press Release issued June 3, 2020.

















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