---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-054049"
form_type: "8-K"
ticker: null
cik: "0001029142"
company_name: "DYNAVAX TECHNOLOGIES CORP"
filed_at: "2025-03-13T23:59:59+00:00"
generated_at: "2026-05-24T20:11:21.601298+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Dynavax issues $225M 2% convertible notes due 2030; exchanges $185.3M of 2026 notes

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-25-054049
- form_type: 8-K
- cik: 0001029142
- company_name: DYNAVAX TECHNOLOGIES CORP
- filed_at: 2025-03-13T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1029142/000119312525054049/0001193125-25-054049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1029142/000119312525054049/d935304d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-054049
- JSON: https://secwatch.observer/filing/0001193125-25-054049.json
- Plain text: https://secwatch.observer/filing/0001193125-25-054049.txt

## Key facts
- Debt Financings
  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
  source text: Dynavax Technologies Corporation (the “Company”) issued $225.0 million aggregate principal amount of its 2.00% Convertible Senior Notes due 2030 (the “New Notes”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1029142/000119312525054049/0001193125-25-054049-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.