Company: DVAX
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0001628280-25-049536
Chunk: 287

Company: DYNAVAX TECHNOLOGIES CORP
Filing Date: 2025-11-05
Form: 10-Q
Item: Part I, Item 8
Chunk 287
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 described in the indenture governing the 2030 Notes), at our option, on or after March 20, 2028, and prior to the 26th scheduled trading day immediately preceding the maturity date, if the last reported sale 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 2030 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 2030 Notes), holders of the 2030 Notes may require us to repurchase for cash all or any portion of their 2030 Notes at a repurchase price equal to 100% of the principal amount of the 2030 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 2030 Notes) or if we deliver a notice of redemption before the maturity date, we will, in certain circumstances, adjust the conversion rate for holders who elect to convert their 2030 Notes in connection with such corporate event or such notice of redemption.As of September 30, 2025, the 2030 Notes were recorded at the aggregate principal amount of $225.0 million less unamortized issuance costs of $4.0 million as a long-term liability on our condensed consolidated balance sheets. As of September 30, 2025, the fair value of the 2030 Notes was $209.2 million. The fair value was estimated using a reputable third-party valuation model based on observable inputs and is considered Level 2 in the fair value hierarchy. The debt issuance costs are amortized to interest expense over the contractual term of the 2030 Notes at an effective interest rate of 2.4%.The following table presents the components of interest expense related to our Convertible Notes (in thousands):  Three Months EndedSeptember 30,Nine Months EndedSeptember 30, 2025202420252024Stated coupon interest$1,376 $1,409 $4,156 $4,227 Amortization of