Dynavax Prices Public Offering of Common Stock
BERKELEY, CA, Nov 03, 2011 (MARKETWIRE via COMTEX) -- Dynavax Technologies
Corporation (DVAX) today announced the pricing of a previously announced
underwritten public offering of 24,000,000 shares of its common stock, offered at
a price to the public of $2.50 per share. The gross proceeds to Dynavax from this
offering are expected to be $60 million, before deducting the underwriting
discount and other estimated offering expenses payable by Dynavax. Dynavax has
granted the underwriters a 30-day option to purchase at the public offering price
up to an aggregate of 3,600,000 additional shares of its common stock to cover
overallotments, if any. The offering is expected to close on or about November 8,
2011, subject to customary closing conditions. Dynavax anticipates using the net
proceeds from the offering primarily to fund activities in connection with the
anticipated approval and commercial launch of HEPLISAV(TM), and for other general
corporate purposes, including working capital.
Cowen and Company, LLC is acting as sole book-running manager for the offering
and William Blair & Company, L.L.C. is acting as co-manager.
The securities described above are being offered by Dynavax pursuant to a shelf
registration statement previously filed with the Securities and Exchange
Commission (the "SEC"), which the SEC declared effective on July 22, 2011. A
final prospectus supplement related to the offering will be filed with the SEC
and will be available on the SEC's website located at sec.gov. Copies
of the final prospectus supplement and the accompanying prospectus relating to
this offering, when available, may be obtained from Cowen and Company, LLC (c/o
Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, NY, 11717,
Attn: Prospectus Department, Phone: 631-274-2806, Fax: 631-254-7140).
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy these securities, nor shall there be any sale of these securities
in any state or other jurisdiction in which such offer, solicitation or sale
would be unlawful prior to the registration or qualification under the securities
laws of any such state or other jurisdiction.
About Dynavax
Dynavax Technologies Corporation, a clinical-stage biopharmaceutical company,
discovers and develops novel products to prevent and treat infectious and
inflammatory diseases. The Company's lead product candidate is HEPLISAV, a Phase
3 investigational adult hepatitis B vaccine designed to provide rapid and
superior protection with fewer doses than current licensed vaccines. |
