German biotech company CureVac sets terms for IPO

• It plans to raise $200 million by offering 13.3 million shares at a price range of $14 to $16. The company plans to raise an additional $118 million in a concurrent private placement to insider Dietmar Hopp. At the midpoint of the proposed range, CureVac would command a market value of $2.6 billion.
• It plans to list on the Nasdaq under the symbol CVAC.
• BofA Securities, Jefferies, Credit Suisse, Berenberg and Kempen are the joint bookrunners on the deal.

The bottom line: The more vaccines in the pipeline, the better the chances of curbing this.