Bavarian Nordic takeover offer at DKK 233.0 per share.

Bavarian Nordic has entered into a binding agreement with Innosera ApS to acquire all outstanding shares at DKK 233.0 per share. The offer document, approved by the Danish Financial Supervisory Authority, includes an acceptance form and is available for review. The takeover offer is subject to regulatory approvals and other customary conditions.

July 2, 2025 — Bavarian Nordic A/S has entered into a binding agreement with Innosera ApS for the acquisition of all outstanding shares at a price of DKK 233.0 per share. The offer document, recently approved by the Danish Financial Supervisory Authority, includes an acceptance form and is now available for review by shareholders [1].

The original offer, announced on July 28, 2025, required more than 90% of the voting rights and share capital to be accepted. However, Innosera ApS has amended this condition to 75% of the Company's shares, excluding treasury shares. The potential implications for shareholders who do not accept the offer will be detailed in the Board Statement, which the Board of Directors of Bavarian Nordic is expected to issue soon [1].

Shareholders are advised to carefully read the offer document and the accompanying Board Statement before making a decision. The offer-related documents, including the Offer Document and the acceptance form, are available on Bavarian Nordic's website, www.bavarian-nordic.com. Notice of publication and access to these documents will also be sent to the Company's registered shareholders [1].

The takeover offer is subject to regulatory approvals and other customary conditions. For further information, shareholders can contact the investor relations team or refer to the Company's official announcement [1].

References:
[1] https://www.nasdaq.com/press-release/publication-offer-document-respect-takeover-offer-shareholders-bavarian-nordic