Dynavax to Float Common and Preferred Stock Issues

Dynavax Technologies is gearing up for a round of capital raising. The company announced today that it aims to float a pair of share offerings in two underwritten public offerings. The first will be an issue of its common stock, while the second will consist of shares of its Series B convertible preferred stock.

Dynavax said it intends to use the proceeds of the offerings to fund the development of, and efforts at regulatory approval for, its HEPLISAV hepatitis B vaccine. It will also use the monies for "general corporate purposes," which include working capital.

Cowen Group's Cowen and Company is the sole book-running manager for both issues.

At the moment, Dynavax has just under 183 million common shares outstanding, and that stock most recently closed at $1.17 per share.

The article Dynavax to Float Common and Preferred Stock Issues originally appeared on Fool.com.

Fool contributor Eric Volkman has no position in any stocks mentioned, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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