Dynavax Technologies Announces Proposed Public Offering of Common Stock
May 21 2020 - 4:01PM
Dynavax Technologies Corporation (Nasdaq: DVAX), a
biopharmaceutical company focused on developing and commercializing
novel vaccines, today announced that it intends to offer and sell,
subject to market and other conditions, shares of its common stock
in an underwritten public offering. Dynavax also expects to
grant the underwriters a 30-day option to purchase up to an
additional 15% of the common stock being offered in the public
offering. All of the shares in the offering will be sold by
Dynavax. 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, 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.
The securities described above are being 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 preliminary prospectus supplement and
accompanying prospectus 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,
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
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 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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