Dynavax (DVAX) Prices 14M Share Common Offering at $5/Sh

Dynavax Technologies Corporation (NASDAQ: DVAX) today announced the pricing of its previously announced underwritten public offering of 14,000,000 shares of its common stock at a price to the public of $5.00 per share. The gross proceeds to Dynavax from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Dynavax, are expected to be approximately $70.0 million. In addition, Dynavax has granted the underwriters a 30-day option to purchase up to an additional 2,100,000 shares of common stock. The offering is expected to close on or about May 27, 2020, subject to satisfaction of customary closing conditions.

Cowen, Evercore ISI and William Blair are acting as joint book-running managers for the offering. H.C. Wainwright & Co. is acting as co-manager for the offering.

Dynavax anticipates using the net proceeds from the offering to fund activities associated with the ongoing commercialization of HEPLISAV-B® [Hepatitis B Vaccine (Recombinant), Adjuvanted], to advance its CpG 1018 vaccine platform, including any scale up efforts in support of a potential COVID-19 vaccine by Dynavax and its collaborators, and for general corporate purposes, including working capital.

You May Also Be Interested In

• Zentalis Pharmaceuticals prices $80.5M public stock offering
• FocalTherics prices public offering of 8.4 million ADS at $4.75 each
• Zentalis Pharmaceuticals launches public stock offering