Acasti Pharma Announces Pricing of $16.6 Million Underwritten Public Offering of Common Shares
Acasti Pharma (NASDAQ:ACST;TSXV:ACST), a biopharmaceutical innovator focused on the research, development and commercialization of its prescription drug candidate CaPre (omega-3 phospholipid) for the treatment of severe hypertriglyceridemia, announced today the pricing of an underwritten public offering of 16,600,000 common shares in the United States at a price to the public of $1.00 per share. As … Continued
Acasti Pharma (NASDAQ:ACST;TSXV:ACST), a biopharmaceutical innovator focused on the research, development and commercialization of its prescription drug candidate CaPre (omega-3 phospholipid) for the treatment of severe hypertriglyceridemia, announced today the pricing of an underwritten public offering of 16,600,000 common shares in the United States at a price to the public of $1.00 per share.
As quoted in the press release:
Acasti Pharma has granted the underwriters a 30-day option to purchase up to 2,490,000 additional common shares sold in the offering, to cover over-allotments, if any. All common shares in the offering are being offered by Acasti Pharma. The offering is expected to close on or about October 9, 2018, subject to the satisfaction of customary closing conditions, including approval of the Nasdaq Capital Market and the TSX Venture Exchange.
Oppenheimer & Co. Inc. is acting as the sole book-running manager for the proposed offering. Aegis Capital Corporation is acting as a co-manager in connection with the offering.
The gross proceeds to Acasti Pharma from this offering are expected to be approximately $16.6 million, before deducting underwriting discounts and commissions and other estimated offering expenses payable by Acasti Pharma. Acasti Pharma intends to use the net proceeds of the offering to fund its TRILOGY Phase 3 program, to advance partnering discussions around the world and for working capital and general corporate purposes.
