Item 1.01. Entry into a Material Definitive Agreement
Dynavax Technologies Corporation (the Company) entered into an Office Sublease (the Powell Street Sublease) with
MedAmerica, Inc. d/b/a Vituity (Powell Street Sublandlord) for office space located at 2100 Powell Street, Emeryville, California (the Powell Street Premises). The Powell Street Sublease was subject to consent by the master
landlord, which was received on July 11, 2019. The purpose of the Powell Street Sublease is to replace the Companys current leased premises at 2929 Seventh Street, Berkeley, California (the Current Premises). The Company
intends to move its corporate headquarters to the Powell Street Premises in the third quarter of 2019.
Under the terms of the Powell
Street Sublease, starting on July 15, 2019 (the Powell Street Commencement Date), the Company will lease approximately 23,976 square feet in the Powell Street Premises at the rate of $3.90 per square foot (the Powell Street
Base Rent), paid on a monthly basis. The Powell Street Base Rate is subject to scheduled annual increases, and the Company is also responsible for certain operating expenses and taxes throughout the life of the Powell Street Sublease.
The Powell Street Sublease will continue until June 30, 2022.
The Company had previously agreed with Emery Station West, LLC (Horton Street Master Landlord) to lease office/laboratory space
located at 5959 Horton Street, Emeryville, California (Horton Street Premises), as its new corporate headquarters (Horton Street Master Lease). On July 12, 2019, the Company entered into a Sublease (the Horton
Street Sublease) with Zymergen Inc. (Horton Street Subtenant), subject to consent by the Horton Street Master Landlord, to sublease the entire Horton Street Premises to Horton Street Subtenant. Master Landlord consent was received
on July 16, 2019. The Company has not occupied and does not intend to occupy any of the Horton Street Premises.
Under the terms of
the Horton Street Sublease, starting on the latest to occur of the following: (1) Companys receipt of consent from the Horton Street Master Landlord; (2) Companys receipt of a Certificate of Occupancy; or (3) July 15,
2019 (Horton Street Commencement Date), the Company will sublease to the Horton Street Subtenant all of the Horton Street Premises consisting of 75,662 rentable square feet at the rate of $5.50 per square foot (the Horton Street
Base Rate) paid on a monthly basis. The Horton Street Base Rate is subject to scheduled annual increases, and the Horton Street Subtenant is also responsible for certain operating expenses and taxes throughout the life of the Horton Street
Sublease.
The Horton Street Sublease will continue until March 31, 2031, concurrent with the term of Companys Horton Street
Master Lease.
The foregoing descriptions of the terms of these subleases do not purport to be complete, and are qualified in their
entirety by reference to the respective subleases, which will be filed with the Companys Quarterly Report on Form 10-Q for the period ending on September 30, 2019.