Dynavax ( (DVAX) ) has provided an announcement.
Dynavax Technologies has implemented a stockholder rights plan to safeguard its shareholders’ interests following a significant stock acquisition by Deep Track Capital, which now owns 13.6% of the company’s common stock. This plan aims to prevent any entity from gaining control without paying a fair premium or offering the board adequate time for decision-making. The plan comes with provisions that become active if someone acquires 15% or more of the stock, offering existing shareholders rights to purchase shares at a favorable price, thereby diluting the control of the acquiring party.
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