Company: DVAX
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001029142-25-000071
Chunk: 233

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-05-06
Form: 10-Q
Item: Part I, Item 1
Chunk 233
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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 consecutive trading day period (including the last trading day of such period) ending on the trading day immediately preceding the date on which we provide notice of redemption, at a redemption price equal to 100% of the principal amount of the 2026 Notes to be redeemed, plus accrued and unpaid interest to, but excluding, the redemption date.If we undergo a fundamental change (as defined in the indenture governing the 2026 Notes), holders of the 2026 Notes may require us to repurchase for cash all or any portion of their 2026 Notes at a repurchase price equal to 100% of the principal amount of the 2026 Notes to be repurchased, plus accrued and unpaid interest, but excluding, the fundamental change repurchase date. In addition, following certain corporate events (as defined in the indenture governing the 2026 Notes) or if we deliver a notice of redemption prior to the maturity date, we will, in certain circumstances, adjust the conversion rate for holders who elect to convert their 2026 Notes in connection with such a corporate event or such notice of redemption. As of March 31, 2025,