Nasdaq debut: Curevac with IPO 213 million dollars

The tübingen-based Biotech company Curevac has taken an Insider, according to the IPO on the American Nasdaq stock exchange in 213 million dollars. 13,33 millio

Nasdaq debut: Curevac with IPO 213 million dollars

The tübingen-based Biotech company Curevac has taken an Insider, according to the IPO on the American Nasdaq stock exchange in 213 million dollars. 13,33 million shares were issued to the $ 16, i.e. the top end of the price range, as a process Person familiar said on Thursday. The stock exchange debut is planned for Friday.

Curevac wants to Fund with the money, especially the development of the Corona vaccine candidates until the completion of the pivotal clinical Phase 3 study and the extension of its production capacities. From the proceeds, around 150
estimated million dollars (130 million euros). With a further 50 million dollars, will be expanded according to the stock exchange prospectus, the short-term production capacity. The main investor of Curevac,
SAP co-founder Dietmar Hopp, will be retained after the IPO, the control.

Curevac is in the search for a vaccine against Sars-CoV-2 one of several hopefuls in the world – and not the only one who takes fresh money in the stock market. On Thursday, the
was already launched in Hong Kong-listed shares of the Chinese company Cansino in addition, in Shanghai, and the price doubled at times.

NASDAQ COMP. -- -- (--) NASDAQ INDICES 1T 1W 3M 1J 3J 5J For detail view

the introduction of The IPO of Curevac on the Nasdaq stock exchange should be around $ 245 million. Hopp wants to buy shares for 100
million dollars. After the share placement Hopps company Dievini, which was previously the majority owner has to keep, nearly 50 percent of the shares. The state-owned promotional Bank, KfW is still to just under 17 percent, and the pharmaceutical company GlaxoSmithKline on a good 8 per cent.

In a recently completed round of financing Curevac had already collected about 560 million euros from investors. Including
the Federal government, which had announced in June the start of the KfW for a 300 million euros. The aim was therefore to prevent in the race for a Corona vaccine is a possible Takeover from abroad
. According to information from the Federal government, the Initiative from the companies. Than other investors about the Fund
of Qatar and GlaxoSmithKline came into being. The British company is one of the leading vaccine companies in Europe.


at the beginning of March, the us President, Donald Trump had invited the then Curevac chief Dan Menichella and other pharmaceutical representatives into the White
house, to learn about the vaccine search. Shortly thereafter, there was a vortex to the baden-württemberg company: according to media reports, Trump was trying to secure the vaccine exclusively for
his country and offered a high amount which caused outrage. Hopp rejected, therefore, both a sale as
an exclusive production for Trump vehemently. After that, the Federal government stepped in.


Updated Date: 14 August 2020, 03:19

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