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Dynavax Tech Plans $200 Million Convertible Senior Notes Offering; Stock Slumps

05/10/2021 07:42

11:42 AM EDT, 05/10/2021 (MT Newswires) -- Dynavax Technologies (DVAX) said Monday it intends to offer $200 million of convertible senior notes due 2026 in a private placement to institutional investors.

The company said it plans to use the proceeds for debt repayment. It also set aside $30 million for possible over-allotments.

The stock plunged 18% in morning trading amid a broadly mixed market.

Price: 8.06, Change: -1.75, Percent Change: -17.79