Zevra Therapeutics to Acquire Acer Therapeutics for ~$91M
Shots:
- 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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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
