BERKELEY, CA, Oct 24, 2013 (Marketwired via COMTEX) -- Dynavax Technologies Corporation DVAX -5.17% today announced that it intends to concurrently offer to sell, subject to market and other conditions: (i) shares of its common stock in an underwritten public offering, and (ii) shares of its Series B Convertible Preferred Stock ("Series B") in a separate underwritten public offering. The Series B is non-voting and convertible into shares of Dynavax common stock, provided that conversion will be prohibited if, as a result, the holder and its affiliates would own more than 9.98% of the total number of shares of Dynavax common stock then outstanding. Dynavax anticipates using the net proceeds from the offerings primarily to fund development activities predominantly associated with conducting an additional Phase 3 study of HEPLISAV(TM) and seeking regulatory approval to commercialize the vaccine in the United States and Europe, and for other general corporate purposes, including working capital.
Cowen and Company, LLC is acting as sole book-running manager for the offerings. William Blair & Company, L.L.C. is acting as co-manager.