Brief: Zevra Therapeutics To Acquire Acer Therapeutics, Expanding Its Rare Disease Portfolio And Adding Commercial Product

Acer Therapeutics

31/08/2023 12:39

Aug 31 (Reuters) - Acer Therapeutics Inc  ACER.O :
    * ZEVRA THERAPEUTICS TO ACQUIRE ACER THERAPEUTICS, EXPANDING
ITS
RARE DISEASE PORTFOLIO AND ADDING COMMERCIAL PRODUCT
    * ZEVRA THERAPEUTICS INC - FDA-APPROVED COMMERCIAL ASSET
EXPECTED
TO INCREASE AND DIVERSIFY ZEVRA'S REVENUES
    * ZEVRA THERAPEUTICS INC - PROPOSED ACQUISITION OF ACER FOR
$15M
IN ZEVRA STOCK PLUS CONTINGENT VALUE RIGHTS
    * ZEVRA THERAPEUTICS - TRANSACTIONS, WHICH HAVE BEEN
APPROVED BY
BOARDS OF DIRECTORS OF BOTH COMPANIES, ARE CURRENTLY ANTICIPATED
TO CLOSE IN Q4 OF 2023
    * ZEVRA THERAPEUTICS- UNDER AGREEMENT TERMS, AT CLOSING, CO
WOULD
ISSUE 0.121 OF A SHARE OF CO'S COMMON STOCK IN RESPECT OF EACH
SHARE OF ACER'S COMMON STOCK
    * ZEVRA THERAPEUTICS INC - EXPECTS TO ACQUIRE SIGNIFICANT
NET
OPERATING LOSS (NOL) TAX ASSETS AS PART OF THIS MERGER
    * ZEVRA THERAPEUTICS-IN ADDITION, CO HAS AGREED TO PROVIDE
ACER
WITH A BRIDGE LOAN FACILITY FOR UP TO $16.5 MILLION, SUBJECT TO
CERTAIN TERMS AND CONDITIONS

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