Dynavax stockholders to receive $15.50 in cash, a 39% premium to Dynavax closing share price on December 23, 2025 Financial considerations Under the terms of the merger agreement, Sanofi will commence a cash tender offer to acquire all outstanding shares of Dynavax for $15.50 per share in cash, reflecting a total equity value of approximately $2.2 billion. The offer price represents a premium of approximately 39% over the closing price of Dynavax on December 23, 2025 and a premium of approximately 46% over ...