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CUSIP No. 00444P108
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Page
3
of 5
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Item 1. Security and Issuer
This Amendment No. 1 amends the statement on Schedule 13D originally filed on September 29, 2017 (as amended, the
Statement) relating to the common stock, par value $0.0001 per share (the Common Stock), of Acer Therapeutics Inc., a Delaware corporation (the Issuer). The Issuers principal executive office is located at
One Gateway Center, Suite 351, 300 Washington Street, Newton, MA 02458. Except as supplemented herein, such statements, as heretofore amended and supplemented, remain in full force and effect. Information given in response to each item shall be
deemed incorporated by reference in all other items, as applicable. Each capitalized term used but not defined herein has the meaning ascribed to such term in the Schedule 13D, as amended.
Item 2. Identity and Background
(a)
The name of the reporting person is Chris Schelling (the Reporting Person).
(b) The business address of the Reporting Person
is One Gateway Center, Suite 351, 300 Washington Street, Newton, MA 02458.
(c) The principal occupation of the Reporting Person is
President and Chief Executive Officer of the Issuer at the Issuers principal executive office located at One Gateway Center, Suite 351, 300 Washington Street, Newton, MA 02458. The Reporting Person also serves as a director of the Issuer.
(d) During the last five years, the Reporting Person has not been convicted in a criminal proceeding (excluding traffic violations or similar
misdemeanors).
(e) During the last five years, the Reporting Person was not a party to a civil proceeding of a judicial or administrative
body of competent jurisdiction and as a result was not or is not subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any
violation with respect to such laws.
(f) The Reporting Person is a citizen of the United States.
Item 3. Source and Amount of Funds or Other Consideration
Item 3 is supplemented and amended, as the case may be, as follows:
The source and amount of funds used by the Reporting Person to acquire beneficial ownership of 142,857 shares of the Issuers Common
Stock was personal funds in the amount of $499,999.50. The shares were purchased in a private placement transaction directly from the Issuer on July 24, 2020 (the Private Placement).
Item 4. Purpose of Transaction
Item
4 is supplemented and amended, as the case may be, as follows:
On July 24, 2020, the Reporting Person and other accredited investors
entered into a securities purchase agreement (the Purchase Agreement) with the Issuer for the Private Placement in which the Issuer offered and sold an aggregate of 244,998 shares of the Issuers Common Stock to the investors at a
price of $3.50 per share, resulting in aggregate proceeds to the Issuer of $857,493.00. Pursuant to the Purchase Agreement, the Reporting Person purchased 142,857 shares of Common Stock in the Private Placement. The shares purchased by the Reporting
Person in the Private Placement constitute restricted securities under the federal securities laws and are subject to a minimum six-month holding period. The Private Placement closed on
July 29, 2020.
The Reporting Person purchased the shares in the Private Placement and holds securities of the Issuer for general
investment purposes. The Reporting Person may, from time to time, depending on prevailing market, economic and other conditions, acquire additional shares of Common Stock or other securities of the Issuer or engage in discussions with the Issuer
concerning further acquisitions of shares of Common Stock or other securities