Zevra Therapeutics to acquire Acer Therapeutics in stock-and-CVR merger

ZEVRA THERAPEUTICS, INC.

Acer stockholders receive 0.120 Zevra shares per share plus one CVR; Zevra to issue ~2.96M shares.
CVR milestones include up to $34M tied to OLPRUVA net sales, plus payments for FDA approvals of OLPRUVA and EDSIVO.
Zevra provides $10M initial bridge loan at 12% to Acer; total facility up to $16.5M.
Zevra purchases Acer debt from Nantahala: ~$20.2M SWK loans and ~$15.1M Marathon convertible notes.
Acer pays $3M termination fee if it accepts superior proposal or breaches non-solicitation.

item 1.01 item 2.03 item 3.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

ZEVRA THERAPEUTICS, INC. entered into Agreement and Plan of Merger with Acer Therapeutics Inc. (effective 2023-08-30).

Action: entry
Agreement: merger
Counterparty: Acer Therapeutics Inc.
Effective: 2023-08-30

Exact text from the filing

On August 30, 2023, Zevra Therapeutics, Inc., a Delaware corporation (“ Zevra ”), entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) by and among Zevra, Aspen Z Merger Sub, Inc., a Delaware corporation and an indirect wholly-owned subsidiary of Zevra (“ Merger Sub ”), and Acer Therapeutics Inc., a Delaware corporation (“ Acer ”).

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Source: SEC EDGAR

accession 0001193125-23-225486

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