Dynavax Technologies Announces Proposed Public Offering of Common Stock, Non-Voting Preferred Stock and Warrants to Purchase ...
August 07 2019 - 4:12PM
Dynavax Technologies Corporation (Nasdaq: DVAX), a fully-integrated
biopharmaceutical company focused on discovering, developing and
commercializing novel vaccines, today announced that it intends to
offer and sell, subject to market and other conditions, an
aggregate of up to $60.0 million of shares of its common stock,
shares of newly designated non-voting Series B Convertible
Preferred Stock and warrants to purchase common stock in an
underwritten public offering. The offering is subject to market and
other conditions, and there can be no assurance as to whether or
when the offering may be completed, or as to the actual size or
terms of the offering.
Cowen and William Blair are acting as joint book-running
managers for the offering.
Dynavax anticipates using the net proceeds from the offering to
fund activities associated with ongoing commercialization of
HEPLISAV-B® and for general corporate purposes, including working
capital.
The securities described above are being offered by Dynavax
pursuant to a shelf registration statement that automatically
became effective upon filing with the Securities and Exchange
Commission (SEC) on August 8, 2017. A preliminary prospectus
supplement related to the offering will be filed with the SEC and
will be available on the SEC’s website located at
http://www.sec.gov. Copies of the preliminary prospectus supplement
and the accompanying prospectus relating to this offering, when
available, may be obtained by contacting: Cowen and Company, LLC,
Attention: Prospectus Department, c/o Broadridge Financial
Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by
telephone at (631) 274-2806; or William Blair & Company,
L.L.C., Attention: Prospectus Department, 150 North Riverside
Plaza, Chicago, IL 60606, by telephone at (800) 621-0687 or by
email at prospectus@williamblair.com.
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 is a biopharmaceutical company focused on
leveraging the power of the body's innate and adaptive immune
responses through toll-like receptor (TLR)
stimulation. Dynavax discovers, develops and
commercializes novel vaccines. Dynavax launched its first
commercial product, HEPLISAV-B® [Hepatitis B Vaccine (Recombinant),
Adjuvanted], in February 2018, following
U.S. FDA approval for prevention of infection caused by
all known subtypes of hepatitis B virus in adults age 18 years and
older.
Forward-Looking Statements
This press release contains forward-looking statements,
including statements related to the expectations regarding the
timing and size of the proposed offering and the anticipated use of
the net proceeds. These statements are only predictions based on
current information and expectations and involve a number of risks
and uncertainties. Actual events or results may differ materially
from those projected in any of such statements due to various
factors, including market risks and uncertainties and the
satisfaction of customary closing conditions for an offering of
securities. For a discussion of these and other factors, please
refer to Dynavax’s Quarterly Report on Form 10-Q for the quarter
ended June 30, 2019 as well as Dynavax’s subsequent
filings with the SEC. You are cautioned not to place undue
reliance on these forward-looking statements, which speak only as
of the date hereof. This caution is made under the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
All forward-looking statements are qualified in their entirety by
this cautionary statement and Dynavax undertakes no obligation to
revise or update this press release to reflect events or
circumstances after the date hereof, except as required by law.
Contact:
ir@dynavax.com
510-665-7269
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