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Dynavax Technologies Corp Prices Public Offerings of Common Stock and Series B Convertible Preferred Stock


Friday, 25 Oct 2013 08:30am EDT 

Dynavax Technologies Corporation announced the pricing of previously announced concurrent, separate underwritten offerings of 79,570,000 shares of its common stock at a price to the public of $1.075, for expected gross proceeds of $85.5 million and 43,430 shares of its Series B Convertible Preferred Stock at a price to the public of $1,075.00, for expected gross proceeds of $46.7 million. Dynavax expects to receive combined gross proceeds of approximately $132.2 million from these offerings, before deducting the underwriting discounts and commissions and other estimated offering expenses payable by Dynavax. These offerings are expected to close on or about October 30, 2013, subject to customary closing conditions. Dynavax anticipates using the net proceeds from the offerings primarily to fund development activities associated with conducting an additional Phase 3 study of HEPLISAV and seeking regulatory approval to commercialize the vaccine in the United States and Europe, and for other general corporate purposes, including working capital. Cowen and Company, LLC is acting as sole book-running manager. William Blair & Company, L.L.C. is acting as co-manager for the offerings. 

Company Quote

15.62
0.27 +1.76%
26 Dec 2014