CVAC - Why CureVac Stock Is Sinking Today
Shares of vaccine maker CureVac (NASDAQ: CVAC) were sinking 10.8% lower as of 10:43 a.m. ET on Friday. The decline came after investment company dievini and the German government announced the signing of a revised shareholder agreement on Thursday related to their shares in CureVac.
With the changes to the shareholder agreement, dievini will sell some of its shares in CureVac to finance a restructuring of the investment company. This restructuring relates to succession planning for German businessman Dietmar Hopp's estate. As part of this succession planning, ownership of dievini will shift to the Hopp family. Current managing co-partners of the investment company will be bought out.
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Why CureVac Stock Is Sinking Today