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DewDiligence

06/12/25 12:10 PM

#255471 RE: rwwine #255469

BNTX acquires CVAC for ~$5.46/sh in stock—a 34% premium to yesterday’s closing price:

https://finance.yahoo.com/news/biontech-announces-strategic-transaction-acquire-104500109.html

Both companies are based in Germany and both are pursuing oncology programs based on mRNA. CVAC divested its COVID/flu program one year ago (#msg-174700357).

The exchange ratio is subject to a collar based on trading during a 10-day window prior to the deal closing. The nominal deal value is ~$1.25B.