Zevra Therapeutics to Acquire Acer Therapeutics for ~$91M
- Zevra will acquire Acer with a total deal value for Acer stockholders of ~$91M i.e., ~2.96M shares of Zevra common stock at $15M by VWAP during the 20 consecutive trading days or 0.121 shares of Zevra’s common stock per share of Acer common stock. The transaction is expected to close in Q4’23
- Acer shareholders will receive ~$76M in cash tied to CVRs i.e., $34M upon achievement of commercial milestones for Olpruva & ~$42M upon regulatory milestones for rare disease drugs Olpruva & Edsivo
- Zevra also purchased Acer’s secured debt at a discounted value of $35.3M from Nantahala Capital (Nantahala) through a series of transactions in a capital-efficient structure while Acer will receive a bridge loan facility for ~$16.5M. The acquisition will expand Zevra's rare disease portfolio, as well as increase & diversify its revenues with the addition of Olpruva for UCDs
Ref: GlobeNewswire | Image: Zevra Therapeutics
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