Dynavax to Float Common and Preferred Stock Issues

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Dynavax Technologies (NASDAQ: DVAX  ) is gearing up for a round of capital raising. The company announced today that it aims to float a pair of share offerings in two underwritten public offerings. The first will be an issue of its common stock, while the second will consist of shares of its Series B convertible preferred stock.

Dynavax said it intends to use the proceeds of the offerings to fund the development of, and efforts at regulatory approval for, its HEPLISAV hepatitis B vaccine. It will also use the monies for "general corporate purposes," which include working capital.

Cowen Group's Cowen and Company is the sole book-running manager for both issues.

At the moment, Dynavax has just under 183 million common shares outstanding, and that stock most recently closed at $1.17 per share.

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9/28/2016 4:00 PM
DVAX $11.14 Up +0.23 +2.11%
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