---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-280240"
form_type: "8-K"
ticker: "ZVRA"
cik: "0001434647"
company_name: "ZEVRA THERAPEUTICS, INC."
filed_at: "2023-11-20T23:59:59+00:00"
generated_at: "2026-06-07T23:18:45.424235+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Zevra completes Acer acquisition; issues stock, CVRs, and $6M registered direct offering

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-280240
- form_type: 8-K
- ticker: ZVRA
- cik: 0001434647
- company_name: ZEVRA THERAPEUTICS, INC.
- filed_at: 2023-11-20T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 2.01, 7.01, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1434647/000119312523280240/0001193125-23-280240-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1434647/000119312523280240/d209243d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-280240
- JSON: https://secwatch.observer/filing/0001193125-23-280240.json
- Plain text: https://secwatch.observer/filing/0001193125-23-280240.txt

## Key facts
- M&A Transactions
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1434647/000119312523280240/0001193125-23-280240-index.htm

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