Dynavax Signs Debt Refinancing Deals, Plans $8 Million Stock Buyback

MT Newswires Live

Mar 06, 2025

Dynavax Technologies (DVAX) said Thursday it has signed exchange and subscription deals with certain holders of its outstanding 2.5% convertible senior notes due 2026 and a new investor to refinance debt.

The company said it will issue $225 million worth of 2% convertible senior notes due 2030, $40 million of which will be issued to the new investor and certain noteholders and the remainder to be exchanged for the retirement of about $185 million of existing 2026 notes.

The deals will likely be completed around March 13, with about $40 million of the 2026 notes remaining outstanding, Dynavax said.

The company also said it plans to buy back roughly $8 million of its common shares from certain participants in the debt refinancing deals.

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