CureVac’s Final Chapter: Nasdaq Confirms Delisting Timeline Following BioNTech Acquisition

CureVac NL0015436031

The independent public trading journey of Tübingen-based mRNA pioneer CureVac is drawing to a definitive close. Nasdaq has officially confirmed the schedule for the stock's removal from the exchange, following the company's acquisition by Mainz-based BioNTech. Shareholders now face a narrow window for final transactions before trading halts permanently and remaining holdings are subject to a compulsory exchange.

In an official notice dated December 26, 2025, Nasdaq stated that trading in CureVac shares (CVAC) will be suspended after the market close on Monday, January 5, 2026, at approximately 7:50 PM local time. The formal completion of the merger is scheduled for the morning of January 6, with the official delisting to follow on January 7.

This timeline leaves investors with just three remaining trading sessions, starting from Friday, to actively manage their positions on the open market. Currently, the stock is effectively trading as an arbitrage instrument, its price moving in tight correlation with BioNTech's share value. In the latest session, CureVac closed at $4.52, hovering near its 50-day moving average of $4.35.

Compulsory Exchange for Remaining Holders

With BioNTech already controlling approximately 86.75% of CureVac's outstanding shares, a mandatory "squeeze-out" procedure is now applicable for the minority shareholders who remain. Those who did not tender their shares during the offer period, which expired in December, will be compensated automatically.

The exchange ratio is fixed: shareholders will receive 0.05363 BioNTech American Depositary Shares (ADS) for each CureVac share they hold. A key consideration for investors is that this forced exchange may trigger a 15% Dutch withholding tax on the value of the BioNTech shares received.

A Concluded Strategic Shift

The operational transition behind the scenes is largely complete. The conclusion of the tender offer period triggered the resignation of CureVac's former executive board. Leadership has now been assumed by BioNTech's management team, headed by CEO Ugur Sahin. The $1.25 billion transaction not only concludes CureVac's run as a standalone entity but also settles long-running patent disputes related to Covid-19 vaccine technologies.

For remaining CureVac investors, their investment will undergo a fundamental transformation starting January 6, 2026. It will cease to be a speculative bet on a single company and convert into a direct stake in the broader BioNTech corporation. The technical booking of the new BioNTech shares will occur automatically as part of the merger settlement process.