CureVac Shareholders Face Final Decision as BioNTech Takeover Nears Completion

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The corporate battle for the future of Tübingen-based biotech firm CureVac has reached its conclusion. With the necessary majority secured, BioNTech now effectively controls the company. For remaining shareholders, the focus shifts immediately from long-term potential to executing an orderly exit ahead of a critical deadline set to expire in under 48 hours.

The acquisition is now considered a fait accompli. According to the latest available data, BioNTech controls 81.74 percent of CureVac's outstanding shares, decisively surpassing its own stated threshold of 80 percent. This dominant position has fundamentally altered the investment thesis. The share price has decoupled from company-specific operational news and is now mathematically tethered almost exclusively to the fixed exchange ratio for BioNTech stock.

Financial markets have rapidly priced in this new dynamic. The equity now trades primarily as an arbitrage vehicle, with its value effectively capped by the terms of the Mainz-based acquirer's offer.

The Thursday Morning Cut-Off

Investors still holding CureVac shares face a firm and imminent deadline. The subsequent offering period concludes at 06:01 CET on Thursday, December 18, 2025.

Until that precise moment, the originally negotiated exchange offer remains in effect:
* Shareholders will receive 0.05363 BioNTech American Depositary Shares (ADS) for each CureVac share they tender.

This window represents the final, liquid opportunity to exchange holdings under these known conditions.

Consequences of Missing the Deadline

Failing to act before the December 18 deadline exposes investors to a significantly altered risk profile. With BioNTech poised for full integration, minority shareholders could face scenarios that severely compromise liquidity:

• Probable Delisting: A withdrawal from the Nasdaq exchange is highly likely, drastically reducing the ease with which shares can be bought or sold.
• Severe Liquidity Crunch: The loss of a primary listing would cause trading volume to evaporate, making subsequent sales at fair market prices extremely challenging.
• Imminent Squeeze-out: BioNTech's planned reorganization for full integration typically culminates in the compulsory acquisition of remaining minority holdings.

This endgame sentiment is reflected in the technical chart analysis. With a current price of 4.10 euros, the stock trades well below its 200-day moving average, a technical confirmation of the end of its independent price dynamics.

The situation as of this Tuesday is clear. The period of speculation is over, replaced by a phase of administrative resolution. Once the deadline passes on Thursday morning, the shares risk becoming an illiquid security, awaiting only their final legal absorption by the majority shareholder.