In August 2025, Innosera ApS announced a public takeover offer to acquire Bavarian Nordic A/S at DKK 233.0 per share. The minimum acceptance condition was lowered to 75% of the company’s shares. Shareholders are advised to read the offer document and board statement before deciding. The offer is available on Bavarian Nordic’s website. The Offer is subject to Danish law and may not be distributed in certain jurisdictions. U.S. shareholders are encouraged to consult with their advisors regarding the Offer. The receipt of cash may have tax implications for U.S. shareholders. The Offeror may make purchases of shares outside the U.S. as permitted by applicable laws.

Read more at GlobeNewswire: Publication of offer document in respect of the takeover