Dynavax (DVAX) to Offer Common Stock

Dynavax Technologies Corporation (Nasdaq: DVAX) 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.

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