DYNAVAX TECHNOLOGIES CORP: debt financing — Dynavax issues $225M 2% convertible notes due 2030; exchanges $185.3M of 2026 notes

DYNAVAX TECHNOLOGIES CORP

Issued $225M of 2.00% convertible notes due 2030; initial conversion price $18.21 per share (30% premium).
Exchanged $185.3M of existing 2.50% notes due 2026 for ~$185.3M new notes and ~$82.5M cash payment.
Issued $39.7M new notes for cash; used proceeds plus $8M share repurchase at $14.01 to fund transactions.
After exchange, $40.2M of 2026 notes remain outstanding; capped call transactions partially terminated.
New notes mature March 15, 2030, rank equally with 2026 notes, and are convertible under certain conditions.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

DYNAVAX TECHNOLOGIES CORP incurred convertible notes of $225.0 million aggregate principal amount with U.S. Bank Trust Company, National Association at 2.00% per annum maturing March 15, 2030.

Instrument: convertible notes
Principal: $225.0 million aggregate principal amount
Counterparty: U.S. Bank Trust Company, National Association
Rate: 2.00% per annum
Maturity: March 15, 2030
Event: incurrence

Exact text from the filing

Dynavax Technologies Corporation (the “Company”) issued $225.0 million aggregate principal amount of its 2.00% Convertible Senior Notes due 2030 (the “New Notes”)

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Source: SEC EDGAR

accession 0001193125-25-054049

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