On May 27, 2020 Dynavax Technologies Corporation (Nasdaq: DVAX), a biopharmaceutical company focused on developing and commercializing novel vaccines, reported 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 (Press release, Dynavax Technologies, MAY 27, 2020, View Source [SID1234558545]). 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.
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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 View Source 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 [email protected]; 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 [email protected]; 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 [email protected].
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.