CureVac Shareholders Face Final Deadline in BioNTech Acquisition

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The independent, publicly-traded journey of CureVac has concluded after a quarter-century. Competitor BioNTech has successfully secured the necessary majority of shares and declared its takeover offer fulfilled. This marks a pivotal consolidation within the mRNA sector, creating a new heavyweight in the field of genetic medicine technology.

BioNTech announced this morning that it had achieved the minimum acceptance threshold for its acquisition. Approximately 81.74% of all outstanding CureVac shares were tendered to the company. This paves the way for the complete integration of the Tübingen-based mRNA pioneer, founded in the year 2000, into the BioNTech corporate structure.

The path for this merger was largely cleared in late November, when CureVac shareholders voted overwhelmingly at an extraordinary general meeting. Resolutions approving the necessary legal steps received support exceeding 99% in some cases, signaling strong investor approval for the strategic move. Market observers view the union as a logical step that consolidates expertise and resources.

Critical Window for Remaining Investors

For shareholders who have not yet tendered their holdings, BioNTech has initiated a subsequent acceptance period. This final, guaranteed window to participate in the share exchange under the original terms closes at 12:01 a.m. U.S. Eastern Time on Thursday, December 18, 2025.

The exchange ratio remains fixed: investors will receive 0.05363 American Depositary Shares (ADS) of BioNTech for each CureVac share they own. This values CureVac at an aggregate equity value of approximately $1.25 billion. The current share price of €4.57 reflects this acquisition premium, trading only slightly below the 52-week high of €4.83.

Consequences of Declining the Offer

Investors who choose not to accept the offer during this final period face several concrete disadvantages, as outlined by financial experts:

• Tax Implications: A later settlement could trigger a 15% Dutch withholding tax on the allocated BioNTech shares.
• Reduced Liquidity: CureVac shares are expected to be delisted from major trading venues, making the sale of any remaining holdings significantly more difficult.
• Transfer Complications: Additional administrative hurdles may arise when attempting to transfer shares after the integration.

Following the December 18 deadline, BioNTech intends to swiftly execute the remaining legal steps required for the full integration of CureVac's operations. Consequently, the CureVac ticker is poised to disappear permanently from public market listings, closing a distinct chapter in biotech history.