ASPCF - Acerus to acquire Florida-based Serenity in cash/stock deal

Acerus Pharmaceuticals (OTCQB:ASPCF) is acquiring Miami-based Serenity LLC and the global rights to its Noctiva brand in a cash and stock deal. Noctiva is used for treating nocturia due to nocturnal polyuria in adults who awaken at least two times per night to void. Within 90 days of the effectiveness of the acquisition, Acerus will pay a US$6M up-front fee to Serenity, minus certain deductions. Serenity stockholders will be entitled to receive ~804M common shares of Acerus, payable by Jan. 10, 2023, if first commercial sale has occurred before then, or the date of the first commercial sale of Noctiva, resulting in Serenity stockholders owning ~32.6% of the company. Two additional one-time equity-based sales milestones of $5M each, will be paid to Serenity stockholders when net sales of Noctiva sold in the U.S. and Canada combined, reach the thresholds of $100M and $150M in annual net sales. These equity milestones will be

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Acerus to acquire Florida-based Serenity in cash/stock deal