ZEVRA THERAPEUTICS, INC. (ZVRA): M&A transaction — Zevra completes Acer acquisition; issues stock, CVRs, and $6M registered direct offering

ZEVRA THERAPEUTICS, INC.

Acquisition of Acer closed Nov 17; Acer shareholders receive 0.1210 Zevra shares + one CVR per share.
CVRs entitle holders to up to $76M upon achieving OLPRUVA net sales milestones ($35M-$200M) and regulatory approvals.
Zevra raised ~$6M via registered direct offering of 1,382,489 shares + warrants at $4.34/unit; also issued 917,934 shares to cancel Acer warrant.
Prior to merger, Zevra purchased Acer senior secured debt for $28.5M in cash, stock, and notes.
OLPRUVA (FDA-approved for UCDs) adds commercial-stage asset; EDSIVO for vEDS in Phase 3.

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Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

ZEVRA THERAPEUTICS, INC. completed an acquisition involving Acer Therapeutics Inc. for 0.1210 validly issued, fully paid and non-assessable shares of Zevra common stock, $0.0001 par value per share, and one CVR (closed 2023-11-17).

Action: acquisition
Counterparty: Acer Therapeutics Inc.
Consideration: 0.1210 validly issued, fully paid and non-assessable shares of Zevra common stock, $0.0001 par value per share, and one CVR
Closing: 2023-11-17

Exact text from the filing

Completion of Acquisition or Disposition of Assets On November 17, 2023 (the “ Closing Date ”), Zevra completed the previously announced acquisition of Acer Therapeutics Inc., a Delaware corporation (“ Acer ”), pursuant to the Agreement and Plan of Merger (the “ Merger Agreement ”), dated August 30, 2023, by and among Zevra, Aspen Z Merger Sub, Inc., a Delaware corporation and a direct wholly-owned subsidiary of Zevra (“ Merger Sub ”), and Acer.

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ZEVRA THERAPEUTICS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-23-280240

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