D.he Tübingen biotech company Curevac raised 213 million dollars after going public on the American technology exchange Nasdaq, according to a press release. 13.33 million shares were issued at $ 16 each, the top end of the price range. With its announcement, the company confirmed information from financial circles. Trading will start on Friday.
Above all, Curevac intends to use the money to finance the development of its corona vaccine candidate through to the conclusion of the crucial phase 3 clinical trial and the expansion of its production capacities. The proceeds will be around 150
Million dollars (just under 130 million euros). According to the prospectus, the short-term production capacity will be expanded with another 50 million dollars. The main investor in Curevac,
SAP co-founder Dietmar Hopp will keep control after the IPO.
When looking for a vaccine against Sars-CoV-2, Curevac is one of several bearers of hope worldwide – and not the only one who is raising fresh money on the stock market for it. The started on Thursday
shares of the Chinese company Cansino were already listed in Hong Kong in Shanghai – and the price doubled at times.
Curevac’s initial public offering on the Nasdaq technology exchange should bring in around $ 245 million. That can still work, because in addition to the shares previously issued, the company is granting subscribers a 30-day option to purchase up to 1,999,999 additional common shares at the public offer price, minus subscription discounts and commissions.
Hopp also wants to buy shares for $ 100 million. After the share placement, Hopp’s Dievini company, which was previously the majority owner, will hold almost 50 percent of the shares. The state development bank KfW then comes to just under 17 percent and the pharmaceutical company GlaxoSmithKline to a good 8 percent.
In a recently completed financing round, Curevac had already raised around 560 million euros from investors. Underneath
was also the federal government, which announced in June that KfW had invested 300 million euros. The aim was therefore also to accept a possible takeover from abroad in the race for a corona vaccine
prevent. According to the federal government, the initiative came from the company. The sovereign wealth fund appeared as further investors
of Qatar and GlaxoSmithKline make an appearance. The British company is one of the leading vaccine groups in Europe.
At the beginning of March, the American President Donald Trump had the then Curevac boss Dan Menichella and other pharmaceutical representatives into the white
House invited to find out more about the vaccine search. Shortly afterwards there was a stir about the Baden-Württemberg company: According to media reports, Trump tried to secure the vaccine exclusively for his country and offered a large amount for it, which caused outrage. However, Hopp vehemently rejected both a sale and an exclusive production for Trump. Then the federal government got involved.