The acquisition of CureVac by BioNTech is nearing its conclusion. With the initial acceptance period now closed, the outcome is clear: the required threshold has been surpassed, effectively sealing the deal. For remaining shareholders, time is running out to make a choice before the December 18, 2025 deadline.
The Merger’s Strategic Rationale
The logic behind this consolidation of two German mRNA pioneers is reinforced by recent clinical progress at BioNTech. On December 9, the company presented positive Phase 2 trial data for its bispecific antibody candidate, pumitamig, in treating triple-negative breast cancer. The integration of CureVac’s mRNA technology is expected to accelerate these oncology programs.
Furthermore, the merger resolves long-standing legal disputes between the firms. CureVac’s production capabilities and patent portfolio will be absorbed into BioNTech’s infrastructure, while CureVac’s cash reserves of approximately €438 million will bolster the combined entity’s research and development budget.
Shareholder Threshold Secured
BioNTech has successfully secured around 81.74% of CureVac’s shares, comfortably exceeding the minimum acceptance threshold of 80%. This paves the way for the creation of a European biotechnology heavyweight.
Should investors sell immediately? Or is it worth buying CureVac?
A subsequent acceptance period is currently active for remaining equity holders. The key terms are:
– Deadline: December 18, 2025
– Terms: Share exchange for BioNTech American Depositary Shares (ADS)
– Valuation: Approximately $5.46 per CureVac share, subject to the prevailing BioNTech share price
A Narrowing Window for Action
CureVac’s share price now closely tracks the value of BioNTech’s stock, reflecting the fixed exchange ratio. With the free float diminished to under 20%, liquidity has thinned considerably. Trading is likely to grind to a near halt after December 18.
Shareholders who do not tender their shares by the cutoff date face the prospect of holding illiquid stakes in a company that will likely be delisted or subject to a squeeze-out procedure in short order. The independent future of CureVac has effectively ceased to exist, with its trajectory now firmly in BioNTech’s hands.
For investors, the decision is straightforward: accept the exchange offer by next Wednesday or sell the shares on the open market before liquidity evaporates.
Ad
CureVac Stock: Buy or Sell?! New CureVac Analysis from December 11 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 11.
CureVac: Buy or sell? Read more here...
