08:43 AM EST, 11/11/2024 (MT Newswires) -- 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 ( DVAX ) $200 million share repurchase program launched this month, the company said. After the ASR is completed, Dynavax ( DVAX ) will have $100 million remaining under the buyback.

Dynavax ( DVAX ) said it will pay $100 million to Goldman Sachs ( GS ) 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.