The acquisition of CureVac by BioNTech is now virtually certain, placing remaining shareholders at a critical juncture. With a key deadline approaching, investors who fail to act risk being left with illiquid shares and potential tax complications. Here is the essential information for stakeholders.
A Conclusive Vote of Confidence
BioNTech’s initial acceptance period for its takeover bid has closed with a decisive result. Shareholders tendered 184,071,410 CureVac shares, representing a substantial 81.74% of the company’s outstanding share capital. This figure comfortably surpasses the minimum acceptance threshold. All conditions for the deal’s completion, including clearance from the German Federal Cartel Office, have been satisfied, rendering the offer unconditional.
The central term for equity holders is clear: each CureVac share will be exchanged for 0.05363 BioNTech American Depositary Shares (ADS). This values the mRNA specialist at approximately $1.25 billion, a price that over four-fifths of the ownership base has endorsed.
The Final Countdown and Associated Risks
A subsequent acceptance period is now underway, providing a last opportunity for participation. CureVac shareholders have until 0:01 Eastern Time on December 18, 2025, to tender their stock under the identical terms. Following this date, BioNTech is expected to move swiftly to acquire the remaining minority interests, likely through a squeeze-out procedure or an asset transfer followed by liquidation.
Should investors sell immediately? Or is it worth buying CureVac?
For hesitant investors, two significant hazards emerge:
* Loss of Liquidity: Upon finalizing the transaction, BioNTech intends to delist CureVac from the Nasdaq. The shares would then cease to be tradable, making an exit strategy extremely difficult.
* Tax Implications: Shareholders who do not accept the offer during the current acceptance window may become subject to a 15% Dutch withholding tax on proceeds from a subsequent squeeze-out. This levy can be avoided by participating in the ongoing exchange offer.
Solid Financial Footing Eases Transition
CureVac’s latest quarterly report for Q3 2025 demonstrates the firm is entering this integration from a position of strength. The company posted revenue of €54.1 million and maintained robust cash reserves of €416.1 million. Consequently, BioNTech is acquiring not only an mRNA technology platform and a pipeline focused on oncology and infectious diseases, but also a financially stable entity.
The CureVac share price is now effectively pegged to BioNTech’s valuation through the fixed exchange ratio, eliminating independent price movement. Financial markets have priced in the acquisition, removing deal-related uncertainty. The decisive question now rests with the remaining 18% of shareholders: accept the terms or assume the considerable risks of holding out.
Ad
CureVac Stock: Buy or Sell?! New CureVac Analysis from December 4 delivers the answer:
The latest CureVac figures speak for themselves: Urgent action needed for CureVac investors. Is it worth buying or should you sell? Find out what to do now in the current free analysis from December 4.
CureVac: Buy or sell? Read more here...
