Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 280

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 280
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 any ten consecutive trading day period (the “measurement period”), in which the “trading price” (as defined in the indenture governing the 2026 Notes) per $1,000 principal amount of the 2026 Notes for each trading day of the measurement period was less than 98% of the product of the closing price of our common stock and the conversion rate on each such trading day;•If we call such 2026 Notes for redemption, at any time prior to the close of business on the scheduled trading day immediately preceding the redemption date; or•Upon the occurrence of specified corporate events as set forth in the indenture governing the 2026 Notes.On or after February 15, 2026 until the close of business on the second scheduled trading day immediately preceding the maturity date, holders of the 2026 Notes may convert all or any portion of their 2026 Notes regardless of the foregoing circumstances.On April 1, 2025, the conditional conversion feature of the 2026 Notes was triggered as the closing price of our common stock was more than or equal to 130% of the conversion price for at least 20 trading days in the period of 30 consecutive trading days ending on March 31, 2025 (the last trading day of the immediately preceding fiscal quarter), and therefore the 2026 Notes are currently convertible, in whole or in part, at the option of the holders between April 1, 2025 through June 30, 2025. Whether the 2026 Notes will be convertible following such period will depend on the continued satisfaction of this condition or another conversion condition in the future. As of May 2, 2025, we had not received any conversion notices.Since we have the option to settle conversions of the 2026 Notes in cash, shares of our common stock, or a combination of both, we continued to classify the 2026 Notes as long-term debt on our condensed consolidated balance sheets as of March 31, 2025.We may redeem for cash all or any portion of the 2026 Notes (subject to the partial redemption limitation described in the indenture governing the 2026 Notes), at our option, on or after May 20, 2024 and prior to the 31st scheduled trading day immediately preceding the maturity date, if the closing price of our common stock has been at least 130% of the conversion price then in effect for at least 20 trading days (whether or not consecutive) during any 30