CureVac BV, a clinical-stage biotech headquartered in Germany, priced its initial public offering on Friday at $16 a share, the high end of its proposed range. The company sold 13.3 million shares to raise $213.3 million. The stock will start trading on Nasdaq later Friday under the ticker "CVAC." BofA Securities, Jefferies, Credit Suisse after joint bookrunners on the deal, with Berenber and Kempen & Co. acting as co-managers. Proceeds will be used to fund clinical research, R&D, to expand manufacturing facilities and for general corporate purposes. "We are a global clinical-stage biopharmaceutical company developing a new class of transformative medicines based on messenger ribonucleic acid that has the potential to improve the lives of people," the company says in its prospectus. "Our vision is to revolutionize medicine and open new avenues for developing therapies by enabling the body to make its own drugs."
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August 14, 2020 at 05:42PM
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CureVac raises $213.3 million in IPO after pricing at $16 a share, high end of proposed range - MarketWatch
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