Dynavax underwriters exercise greenshoe for 720,000 shares, raising follow-on sale to $35.75 million

By Angela McDaniels

Seattle, Nov. 10 - Dynavax Technologies Corp. said that the underwriters of its follow-on offering of common stock exercised the 720,000 share over-allotment option in full, raising the deal to $35.75 million.

The total size of the deal is now 5.72 million shares, priced at $6.25 each.

Bear, Stearns & Co. Inc. was lead manager for the off-the-shelf sale, which priced after the close on Oct. 10. CIBC World Markets Corp. and Pacific Growth Equities LLC were co-managers.

Net proceeds to the company were approximately $33.6 million, excluding estimated offering expenses.

Berkeley, Calif.-based Dynavax Technologies is a pharmaceutical company that develops products for the treatment of allergies, infectious diseases and chronic inflammatory diseases.

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