Canada's Acasti Pharma Inc. agreed to issue about C$1.5 million of units to the underwriter of its recently closed securities offering, which helped raise C$10 million.

The underwriter, Mackie Research Capital Corp., exercised its overallotment option to buy an additional 1,429,500 units at C$1.05 each from the company.

Acasti Pharma will use the net proceeds from the offering and overallotment to advance its drug pipeline.