trending Market Intelligence /marketintelligence/en/news-insights/trending/IuMkuTw_qj4TC_a2h2yHFw2 content esgSubNav
In This List

Acasti Pharma closes $10M offering

Blog

Japan M&A By the Numbers: Q4 2023

Blog

Essential IR Insights Newsletter Fall - 2023

Case Study

A Corporation Clearly Pinpoints Activist Investor Activity

Blog

Insight Weekly: Bank mergers of equals return; energy tops S&P 500; green bond sales to rise


Acasti Pharma closes $10M offering

Acasti Pharma Inc. closed its offering of common shares and warrants for gross proceeds of about $10 million.

The company offered 9,900,990 common shares with accompanying warrants to buy an aggregate of 9,802,935 common shares, including the exercise of the overallotment option for warrants, at a combined price of $1.01 per share and warrant.

The warrants can be exercised at $1.26 per share from issuance until Dec. 27, 2022.

Net proceeds to Acasti from the offering after deducting underwriting discounts and commissions and other offering expenses are approximately $8.6 million.

Acasti plans to use the net proceeds, together with cash on hand, for further development of its drug CaPre for treating severe hypertriglyceridemia, expansion of business development activities, working capital and other general corporate purposes.

The Benchmark Co. LLC and Dawson James Securities Inc. acted as book-running managers for the offering.