CureVac’s Nasdaq Exit Marks Final Chapter Following BioNTech Acquisition

CureVac NL0015436031

The independent stock market journey of CureVac has concluded. The German mRNA specialist, headquartered in Tübingen, has been fully integrated into BioNTech SE, resulting in the termination of its separate listing. Since January, CureVac shares are no longer traded on the Nasdaq Global Market, with all future value from its legacy projects now tied directly to BioNTech's performance.

For former shareholders, the primary mechanism was an exchange offer. Those who held CureVac equity have been compensated through a predetermined swap into BioNTech American Depositary Shares (ADS). This process finalized the acquisition that was first announced last year.

Key Transaction Details:
- Acquisition Closing Date: 18 December 2025
- Shares Tendered: 195,341,219 (approximately 86.75% of outstanding shares)
- Total Equity Value: Roughly $1.25 billion USD
- Nasdaq Delisting Effective: 16 January
- Final Trading Price: Approximately $4.66 USD
- Exchange Ratio: 0.05363 BioNTech ADS per CureVac share

BioNTech formally completed its takeover of CureVac on 18 December 2025. The initial voluntary exchange offer secured acceptance from holders of about 86.75% of CureVac's outstanding stock. Following this, BioNTech executed a reorganization to compulsorily acquire the remaining shares in January, ensuring full ownership.

CureVac notified the Nasdaq of the completed reorganization on 6 January and requested a trading suspension. The formal delisting from the Nasdaq Global Market took effect on 16 January. The last recorded trade occurred just prior to the suspension, with the share price at around $4.66.

Shareholder Compensation and New Corporate Structure

All CureVac stockholders, whether they participated in the initial offer or not, ultimately received BioNTech ADS at the fixed ratio of 0.05363 ADS for each CureVac share they held. This uniform treatment was implemented through the subsequent compulsory acquisition.

Operationally and legally, CureVac now functions within the BioNTech framework. The entity has been renamed CureVac Merger B.V. BioNTech's leadership, including CEO and co-founder Ugur Sahin, stated the acquisition was strategic, aimed at enhancing the company's capabilities in mRNA design, delivery formulations, and manufacturing. Sahin emphasized that the deal strengthens their mRNA technology platform and could accelerate the development of mRNA as a new class of therapeutics.

The supervisory board of the former CureVac SE has been reconstituted, now comprising Ugur Sahin, Sierk Poetting, and Ramón Zapata-Gomez after the previous CureVac board members voluntarily resigned.

CureVac's research and development programs, including ongoing oncology projects, will continue within the BioNTech organization. BioNTech has indicated that CureVac will maintain its existing operational processes in the near term while strategic and scientific analyses determine the future integrated structure and portfolio alignment.

The merger consolidates two leading German mRNA entities, linking CureVac's Tübingen site with BioNTech's Mainz headquarters. Consequently, any future value generated from CureVac's former assets will be reflected solely in the share price performance of BioNTech.

@ boerse-global.de | NL0015436031 CUREVAC’S