By Devika Patel
Knoxville, Tenn., Oct. 27 – Dynavax Technologies Corp. arranged a $100 million private placement of 10 3/8% five-year senior secured notes with Deerfield Management Co., LP on Oct. 26, according to an 8-K filed Thursday with the Securities and Exchange Commission.
Interest on the notes will be payable semiannually.
The notes may be prepaid at 106.5 in the first three years, at 106 in the fourth year and at 103 after that.
Proceeds will be used for general corporate purposes, including the commercialization of Heplisav-B.
Dynavax is a Berkeley, Calif.-based clinical-stage biopharmaceutical company that discovers and develops drug candidates to prevent and treat infectious and inflammatory diseases.
| Issuer: | Dynavax Technologies Corp.
|
| Issue: | Senior secured notes
|
| Amount: | $100 million
|
| Maturity: | Five years
|
| Coupon: | 10 3/8%
|
| Call option: | At 106.5 in the first three years, at 106 in the fourth year and at 103 after that
|
| Investor: | Deerfield Management Co., LP
|
| Pricing date: | Oct. 26
|
| Distribution: | Private placement
|
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