* Says will use proceeds to further advance Heplisav
* Says 30,293,000 units are being sold at $1.4525/unit
April 13 (BestGrowthStock) – Dynavax Technologies Corp (DVAX.O: )
said it would raise $44 million from a public offering of
common stocks and warrants.
The biopharmaceutical company, which will use the proceeds
for development of its experimental hepatitis B vaccine
Heplisav, said it was offering about 30.3 million units at a
price of $1.4525 per unit.
Each unit consisted of one share of common stock and one
warrant to purchase 0.5 of a common share.
The warrants have a term of five years and an exercise
price of $1.50 per share.
The offering, managed by Wedbush PacGrow LifeSciences, is
expected to close by April 16.
Shares of the company closed at $1.39 Monday on Nasdaq.
Investment Advice
(Reporting by Krishnakali Sengupta in Bangalore; Editing by
Don Sebastian)
UPDATE 1-Dynavax to raise $44 mln from public offering
