Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 376

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 8
Chunk 376
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 received an aggregate initial delivery of 6,149,116 shares of our common stock on November 12, 2024, representing approximately 80% of the total shares that would be repurchased under the ASR Agreement measured based on the closing price of our common stock on November 8, 2024.

The ASR was completed on February 11, 2025, and upon final settlement, we received an additional 1,771,422 shares of our common stock, bringing the total number of shares repurchased under the ASR Agreement to 7,920,538. The final number of shares repurchased was determined based on the average of the daily VWAP per share of our common stock during the repurchase period, subject to adjustments pursuant to the terms and conditions of the ASR Agreement.

In addition to the shares repurchased under the ASR Agreement, during the three months ended March 31, 2025, we repurchased 1,539,589 shares of our common stock for an aggregate purchase price of approximately $20.8 million through open market transactions under the Repurchase Program. These repurchases were made in accordance with Rule 10b-18 under the Exchange Act and were funded using cash on hand.

In connection with the Refinancing Transaction completed on March 13, 2025, we repurchased an additional 569,560 shares of our common stock for approximately $8.0 million in privately negotiated transactions at a price per share of $14.01 (See Note 7).

The following table provides information with respect to the shares of common stock repurchased by us during the three months ended March 31, 2025:

PeriodTotal Number of Shares PurchasedAverage Price Paid per Share (1)Total Number of Shares Purchased as part of Publicly Announced ProgramApproximate Dollar Value of Shares that May Yet Be Purchased Under the Repurchase Program(Dollars in millions) (1)January 1, 2025 - January 31, 2025- $- - $100.0 February 1, 2025 - February 28, 2025 (2)2,503,611 $11.86 2,503,611 $90.3 March 1, 2025 - March 31, 20251,376,960 $13.86 1,376,960 $71.2 Total3,880,571 $12.57