Company: DVAX
Filing Date: 2025-04-17
Form Type: DEFC14A
Source: 0000930413-25-001273
Chunk: 30

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-04-17
Form: DEFC14A
Chunk 30
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 & Case, on behalf of the Company, a letter raising certain questions regarding the Nomination Notice.

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On February 22, 2025, White & Case provided a letter
responding to each of the requests for supplementary information set forth in Cooley’s February 21 letter.

On February 25, 2025, White & Case sent a letter
to the Company demanding that certain books and records be made available to Deep Track under Section 220 of the General Corporation Law
of the State of Delaware in order for Deep Track to obtain names and addresses of the Company’s stockholders for its contemplated
proxy solicitation (the “February 25 Demand Letter”).

On March 4, 2025, Cooley sent a response letter to White & Case’s February 25 Demand Letter agreeing to produce the requested information to the extent such information was available,
subject to Deep Track’s execution of a confidentiality agreement on mutually agreeable terms (the “Confidentiality Agreement”),
including proposed revisions to the form of confidentiality agreement provided by White & Case in the February 25 Demand Letter. From
this time until March 13, 2025, Cooley and White & Case further negotiated the draft Confidentiality Agreement on behalf of the Company
and Deep Track, respectively, which was ultimately executed as of March 13, 2025.

Between February 21, 2025 and March 5, 2025, a Board committee and the Company’s management met several times with its capital
markets advisors and Cooley to discuss and approve the Company’s liability management strategy and intention to refinance
a majority of its Convertible Senior Notes due 2026.

On March 6, 2025, the Company announced that it refinanced
$185.3 million in aggregate principal amount of 2.50% Convertible Senior Notes due 2026 with $225.0 million in aggregate principal amount
of 2.00% Convertible Senior Notes due 2030, including approximately $40.0 million in new notes, as well as a repurchase of $8.0 million in shares of the
Company’s common stock under the Share Repurchase Program (the “Convertible Debt Refinancing”). The Convertible Debt
Refinancing extended the maturity of most of the Company’s existing debt, lowered the Company’s overall cost of capital and
reduced dilution to the Company’s existing capital structure.

On March 10, 2025, Deep Track issued a press