M&A · Healthcare · Pharmaceutical Preparations
Zevra Therapeutics, Inc. to acquire Acer Therapeutics Inc.
Announced Aug 31, 2023 · Closed Nov 20, 2023
Deal value$15MEV $15M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationAll stock
Transaction
- Acquirer
- Zevra Therapeutics, Inc. (ZVRA)
- Target
- Acer Therapeutics Inc. (ACER)
- Buyer type
- Strategic
- Offer price per share
- —
- Enterprise value
- $15M
- Status
- Closed Nov 20, 2023
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Canaccord Genuity
- To the target
- William Blair
- William Blair fee
- $1.0M
Sector context · Healthcare
- Comparable deals
- 91 in the prior 24 months
- Premium
- Sector median 50.0%
- EV / Adj. EBITDA
- Sector median 17.4x
- Break fee
- Sector median 3.5%
Timeline
- AnnouncedAug 31, 2023
- Proxy filedOct 10, 2023
- Definitive proxyOct 10, 2023
- Shareholder voteNov 8, 2023
- ClosedNov 20, 2023
Valuation · fairness opinions
Discounted cash flow$0.90$2.71
Discounted cash flow$1.13$3.63
Implied value per Acer Therapeutics Inc. share by analysis, from William Blair · DCF discount rate 20%–23%.