The CureVac (NASDAQ:CVAC) IPO is underway Friday and potential investors will want to keep an eye on the stock.
- The company launched its IPO today, which priced shares of its stock at $16 each.
- That’s at the high end of the company’s IPO range of $14 per share to $16 per share.
- The company is offering a total of 13,333,333 shares in the IPO.
- This has it raising $213.3 million from the IPO.
- The offering also includes a 30-day option for underwriters to purchase an additional 1,999,999 shares of the stock at the IPO price.
- That could have the company gaining an additional $32 million from the sale of those shares.
- The IPO has CureVac offering its shares on the Nasdaq Global Market under the “CVAC” stock ticker.
- The current plan is for the IPO to end on Tuesday.
- BofA Securities, Jefferies and Credit Suisse are serving as the joint book-running managers for the offering.
- The lead passive book-running managers of the IPO are Berenberg and Kempen & Co.
- CureVac is offering all of the shares in the IPO.
- The company says it plans to use the funds it raises from the IPO to fuel its mRNA vaccine program for the novel coronavirus.
- It’s also expecting to use the money for short term manufacturing capabilities and to fund several other clinical trials in the works.
CVAC stock was up 212.3% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.