Dynavax Technologies to Repurchase $100 Million From Goldman Sachs

MT Newswires Live11-11

Dynavax Technologies (DVAX) said Monday it signed a deal with Goldman Sachs (GS) to repurchase $100 million of shares under an accelerated share repurchase transaction, or ASR.

The transaction is part of Dynavax's $200 million share repurchase program launched this month, the company said. After the ASR is completed, Dynavax will have $100 million remaining under the buyback.

Dynavax said it will pay $100 million to Goldman Sachs to initially receive approximately 6.1 million shares. The final number to be repurchased will be based on volume-weighted average prices of the company's stock during the term of the ASR, the company said.

The final settlement of the ASR is expected to be completed in Q1 2025.

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