Acasti Pharma (NASDAQ:ACST; TSXV:ACST) has announced that in accordance with the terms of the outstanding convertible debentures in the total aggregate amount of $2 million issued February 21, 2017, the company has decided to issue an aggregate of 33,605 common shares to the holders of the debentures in satisfaction of an aggregate of $40,326.
As quoted in the press release:
The common shares issuable for the Interest Payment are issuable at a price of $1.20 per share, being the last closing price of the common shares on the TSX Venture Exchange before December 31, 2017. The settlement of the interest amount in common shares is subject to the Corporation receiving all necessary prior approvals from the TSX Venture Exchange. All amounts referenced are in Canadian dollars.
About Acasti Pharma
Acasti Pharma is a biopharmaceutical innovator advancing a potentially best-in-class cardiovascular drug, CaPre® (omega-3 phospholipid), for the treatment of hypertriglyceridemia, a chronic condition affecting an estimated one third of the U.S. population. The Corporation’s strategy is to initially develop and commercialize CaPre for the 3 to 4 million patients in the U.S. with severe hypertriglyceridemia. Since its founding in 2008, Acasti Pharma has focused on addressing a critical market need for an effective, safe and well-absorbing omega-3 therapeutic that can make a positive impact on the major blood lipids associated with cardiovascular disease risk. For more information, visit www.acastipharma.com.