|Bid||7.96 x 800|
|Ask||8.00 x 900|
|Day's Range||7.80 - 8.04|
|52 Week Range||2.89 - 12.44|
|Beta (5Y Monthly)||1.25|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 04, 2021 - Aug 09, 2021|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||18.00|
Shares of Dynavax Technologies (NASDAQ: DVAX) were trading 5.4% lower as of 11:22 a.m. EDT on Tuesday. The decline came after the company announced the pricing of a $200 million offering of senior convertible notes. This represents a 32.5% premium over the closing price of the biotech stock on Monday.
Dynavax Technologies Corporation ("Dynavax") (Nasdaq: DVAX) today announced the pricing of $200.0 million aggregate principal amount of 2.50% convertible senior notes due 2026 (the "notes") in a private placement to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"). Dynavax also granted the initial purchasers of the notes an option to purchase up to an additional $30.0 million aggregate principal amount of notes. The sale of the notes is expected to close on May 13, 2021, subject to customary closing conditions.
Shares of Dynavax Technologies (NASDAQ: DVAX) were nosediving 18.1% lower as of 11:42 a.m. EDT on Monday. The key word to note in Dynavax's announcement is "convertible." Issuing convertible notes is a common practice for companies, though.