What happened
发生了什么事
Shares of Dynavax Technologies(NASDAQ:DVAX) were trading 5.4% lower as of 11:22 a.m. EDT on Tuesday. The decline came after the company announced the pricing of a $200 million offering of senior convertible notes. Dynavax stock also nosedived on Monday following the company's announcement of plans for the debt offering.So what
截至美国东部时间周二上午11:22,Dynavax Technologies的股价下跌了5.4%。股价下跌之前，该公司宣布以2亿美元的价格发行优先可转换债券。周一，在Dynavax宣布发行债券的计划后，该公司的股价也大幅下跌。那么
Dynavax stated that the conversion price of the notes will be the equivalent of around $10.47 per share. This represents a 32.5% premium over the closing price of the biotech stock on Monday.
Dynavax表示，这些债券的转换价格将相当于每股约10.47美元。这比该公司周一收盘价高出32.5%。
Image source: Getty Images.
图片来源:Getty Images。
In its initial announcement about the debt offering on Monday, the company explained that it plans to use the proceeds to pay off debt and purchase capped calls. These capped calls will give Dynavax call options to buy its shares and offset the potential dilution to the value of existing shares.
在周一关于债券发行的最初公告中，该公司解释说，它计划用筹集到的资金来偿还债务和购买上限认购。这些有上限的认购权将赋予Dynavax购买其股票的认购权，以抵消现有股票价值可能被稀释的影响。
Dynavax provided additional details Tuesday morning. The biotech said that it expects to raise around $195.1 million in net proceeds from the notes offering. That total will rise to $224.4 million if the initial purchasers exercise their options to buy the full allotment of additional notes. Dynavax plans to use around $190.2 million of that sum to repay its debt under the company's term loan agreement. Around $24.2 million will be used to fund the capped call transactions.Now what
Dynavax周二上午提供了更多细节。该公司表示，预计此次债券发行将净筹1.951亿美元。如果最初的购买者行使他们的选择权来购买全部的额外债券，那么总额将增加到2.224亿美元。根据公司的长期贷款协议，Dynavax计划用这笔钱中的约1.902亿美元来偿还债务。约2420万美元将被用于资助上限的呼叫交易。现在
The main things investors should watch for regarding Dynavax are results from clinical studies conducted by its partners that are using its CpG 1018 adjuvant to enhance the effectiveness of their vaccines. Dynavax expects that adjuvant will be a key growth driver throughout 2021 and beyond.
关于Dynavax，投资者应该关注的主要事项是其合作伙伴使用其CpG 1018佐剂来增强疫苗效力的临床研究结果。Dynavax预计，在2021年及以后，辅助产品将成为主要的增长动力。
