---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-082994"
form_type: "8-K"
ticker: null
cik: "0001008848"
company_name: "Acorda Therapeutics, Inc."
filed_at: "2024-07-11T23:59:59+00:00"
generated_at: "2026-05-31T21:39:51.570612+00:00"
event_type: "m_and_a"
sentiment: "negative"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Acorda Therapeutics completes $185M asset sale to Merz, no stockholder recovery

## Summary
- On July 10, 2024, Acorda completed the sale of substantially all assets to Merz Pharmaceuticals for $185 million, as part of its Chapter 11 proceedings.
- Approximately $139 million of the proceeds were distributed to secured creditors, including $62 million to repay the debtor-in-possession loan.
- No proceeds are expected for common stockholders; the company's stock will be cancelled upon effectiveness of the liquidation plan.
- The company anticipates deregistering its common stock after Court confirmation of the plan; trading is highly speculative.

## SEC filing metadata
- accession: 0000950170-24-082994
- form_type: 8-K
- cik: 0001008848
- company_name: Acorda Therapeutics, Inc.
- filed_at: 2024-07-11T23:59:59+00:00
- event_type: m_and_a
- sentiment: negative
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 2.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1008848/000095017024082994/0000950170-24-082994-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1008848/000095017024082994/acor-20240710.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-082994
- JSON: https://secwatch.observer/filing/0000950170-24-082994.json
- Plain text: https://secwatch.observer/filing/0000950170-24-082994.txt

## Key facts
- M&A Transactions
  Acorda Therapeutics, Inc. completed a disposition involving Merz Pharmaceuticals, LLC for $185.0 million (closed 2024-07-10).
  - Action: disposition
  - Counterparty: Merz Pharmaceuticals, LLC
  - Consideration: $185.0 million
  - Closing: 2024-07-10
  source text: payment obligations thereunder, Merz Pharma GmbH & Co. KGaA. The Asset Purchase Agreement provides for the sale of substantially all of the Company’s assets to the Purchaser for $185.0 million, less certain deductions and adjustments as specified in the Asset Purchase Agreement (the “Asset Sale”). On April 1, 2024, the Company, together with certain of its subsidiaries
  evidence_url: https://www.sec.gov/Archives/edgar/data/1008848/000095017024082994/0000950170-24-082994-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.