Dynavax Technologies Announces Closing of $80.5 Million Public Offering of Common Stock and Full Exercise of Underwriters’ ...
May 27 2020 - 4:05PM
Dynavax Technologies Corporation (Nasdaq: DVAX), a
biopharmaceutical company focused on developing and commercializing
novel vaccines, today announced the closing of its previously
announced underwritten public offering of 16,100,000 shares of its
common stock, including the exercise in full by the underwriters of
their option to purchase an additional 2,100,000 shares, 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, were
approximately $80.5 million.
Cowen, Evercore ISI and William Blair acted as joint
book-running managers for the offering. H.C. Wainwright & Co.
acted 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.
The securities described above were offered by Dynavax pursuant
to a shelf registration statement on Form S-3, including a base
prospectus, that was previously filed with and became effective by
rule of the Securities and Exchange Commission (SEC) on April 30,
2020. A final prospectus supplement and accompanying prospectus
relating to the offering have been filed with the SEC and are
available on the SEC’s website located at http://www.sec.gov.
Copies of the final prospectus supplement and the accompanying
prospectus relating to this offering may be obtained by contacting:
Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, New York 11717 Attention: Prospectus
Department, by telephone at (833) 297-2926, or by email at
PostSaleManualRequests@broadridge.com; Evercore Group L.L.C.,
Attention: Equity Capital Markets, 55 East 52nd Street, New York,
NY 10055, by telephone at (888) 474-0200 or by email at
ecm.prospectus@evercore.com; 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 commercial stage biopharmaceutical company
developing and commercializing novel vaccines. The Company 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. Dynavax is
also advancing CpG 1018 as a premier vaccine adjuvant through
research collaborations and partnerships.
Forward-Looking Statements
This press release contains forward-looking statements,
including statements related to the expectations regarding 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 March 31, 2020 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.
Contacts:Nicole Arndt, Senior Manager, Investor
Relationsnarndt@dynavax.com510-665-7264
Derek Cole, PresidentInvestor Relations Advisory
Solutionsderek.cole@IRadvisory.com
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