A Final Trading Window for CureVac Shareholders

Today marks the definitive end of CureVac's 25-year run as an independent publicly traded company. The Nasdaq exchange has confirmed that trading in the stock will be permanently halted this evening. For remaining shareholders, time is of the essence; failing to act promptly could lead to significant tax complications during the impending squeeze-out process.

The curtain falls on Monday, January 5, 2026, as CureVac shares are available for purchase for the final time. Trading is scheduled to cease at 7:50 PM US Eastern Time, following the after-hours session. The formal merger with BioNTech is set to be completed before the market opens on Tuesday, January 6, with the official delisting to follow on January 7.

The situation is urgent for investors who still hold CureVac shares. While the exchange ratio is fixed—0.05363 BioNTech shares for each CureVac share—the method of settlement carries major financial consequences. Shareholders who are swept into the automatic compulsory acquisition process, or squeeze-out, will face a 15% Dutch withholding tax on the compensation they receive.

This tax deduction did not apply to investors who accepted the earlier voluntary takeover offer. To avoid this financial disadvantage, shareholders must sell their holdings during today's regular trading hours.

Should investors sell immediately? Or is it worth buying CureVac?

BioNTech Assumes Full Control

Upon completion of the acquisition, CureVac's entire board of directors will step down. Leadership of the new subsidiary will be assumed directly by BioNTech CEO Ugur Sahin, alongside Sierk Pötting and Ramón Zapata-Gomez. Through this deal, the Mainz-based company secures not only the Tübingen production facility and extensive patent portfolio but also the promising "RNA Printer" platform and oncology pipeline candidates.

CureVac's share price is now almost exclusively pegged to the valuation of BioNTech. Based on BioNTech's closing price of $96.18 on January 3, the implied value of one CureVac share is approximately $5.16. At the close on January 2, the stock traded at $4.67, with volume primarily driven by arbitrage activity.

This trading day represents the irreversible conclusion of the Tübingen vaccine pioneer's stock market listing. Starting tomorrow, Tuesday, the shares will no longer be tradable, and the company will be fully integrated into BioNTech's corporate structure. The squeeze-out procedure for remaining minority shareholders will be finalized later in January.