Sanofi to acquire Dynavax for $15.50/share in cash, total equity value ~$2.2B

DYNAVAX TECHNOLOGIES CORP

Sanofi to acquire Dynavax for $15.50/share cash, total equity value ~$2.2B.
Offer price represents ~39% premium to Dec 23, 2025 close and ~46% over 3-month VWAP.
Acquisition includes marketed hepatitis B vaccine HEPLISAV-B and Phase 1/2 shingles candidate Z-1018.
Transaction expected to close Q1 2026, subject to majority tender, HSR clearance, other conditions.
Dynavax board unanimously approved; officers Novack and Janssen to continue roles until close.

item 1.01 item 5.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

DYNAVAX TECHNOLOGIES CORP entered into Agreement and Plan of Merger with Sanofi (effective 2025-12-23).

Action: entry
Agreement: merger
Counterparty: Sanofi
Effective: 2025-12-23

Exact text from the filing

On December 23, 2025, Dynavax Technologies Corporation, a Delaware corporation (the “ Company ” or “ Dynavax ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) by and among the Company, Sanofi, a French soci é t é anonyme (“ Parent ”) and Samba Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent (“ Purchaser ”).

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Source: SEC EDGAR

accession 0001193125-25-332264

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