BioNTech To Acquire CureVac In All-stock Deal With Aggregate Equity Value Of Approx. $1.25 Bln

(RTTNews) - BioNTech SE (BNTX) and CureVac N.V. (CVAC) have entered into a definitive Purchase Agreement pursuant to which BioNTech intends to acquire all of the shares of CureVac, a clinical-stage biotech company developing medicines in oncology and infectious diseases based on messenger ribonucleic acid. Each CureVac share will be exchanged for approximately $5.46 in BioNTech ADSs, resulting in an implied aggregate equity value for CureVac of approx. $1.25 billion. Upon closing, CureVac shareholders are expected to own between 4% and 6% of BioNTech.

Following the closing of the exchange offer, BioNTech and CureVac will effectuate a corporate reorganization of CureVac and its subsidiaries, resulting in BioNTech owning 100% of CureVacs business and interests in CureVac and its subsidiaries.

Shares of CureVac are up 29% in pre-market trade on Thursday.

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