Company: DVAX
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001029142-25-000117
Chunk: 226

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 226
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 amount of the applicable series of notes.(2)Subject to adjustments as defined in the applicable indentures.(3)In connection with the 2026 Notes, we entered into capped call options. The cap price of the capped call options was initially $15.80 per share, subject to certain adjustments under the terms of the capped call options.(4)The 2026 Notes and 2030 Notes may be settled in cash, shares of our common stock, or a combination thereof, solely at our election.Convertible Senior Notes due 2026Following the Refinancing Transaction, the remaining principal balance of our 2026 Notes is $40.2 million as of June 30, 2025. These remaining 2026 Notes carry an unamortized debt discount of approximately $0.2 million as of June 30, 2025, which will continue to be amortized to interest expense over the remaining term using the effective interest method.The 2026 Notes are general unsecured obligations and accrue interest at a rate of 2.50% per annum payable semiannually in arrears on May 15 and November 15 of each year, beginning on November 15, 2021. The 2026 Notes mature on May 15, 2026, unless converted, redeemed or repurchased prior to such date. As of June 30, 2025, we reclassified the remaining principal balance of our 2026 Notes totaling $40.2 million from long-term liabilities to current liabilities as the notes mature within 12 months of the reporting date.The 2026 Notes are convertible into cash, shares of our common stock or a combination of cash and shares of our common stock, at our election, at an initial conversion rate of 95.5338 shares of our common stock per $1,000 principal amount of the 2026 Notes, which is equivalent to an initial conversion price of approximately $10.47 per share of our common stock. The 2026 Notes are convertible at the option of the holders at any time prior to the close of business on the business day immediately preceding February 15, 2026, only under the following circumstances:•During any calendar quarter (and only during such calendar quarter), if the last reported sale price of our common stock for at least 20 trading days (whether or not consecutive) during a period of 30 consecutive trading days ending on, and including, the last trading day of the immediately preceding calendar quarter is greater than or