On December 27, 2017, Acasti Pharma Inc. (“Acasti”) completed its underwritten public offering of 9,900,990 common shares together with accompanying warrants to purchase an aggregate of 9,802,935 common shares at a combined price to the public of US$1.01 per share and accompanying warrant, for aggregate gross proceeds to Acasti of approx. US$10 million. The Benchmark Company, LLC and Dawson James Securities, Inc. acted as book-running managers for the offering.
On January 22, 2018, the underwriters exercised their over-allotment option, in part, and Acasti completed an additional issuance of 776,179 common shares for aggregate gross proceeds to Acasti of approximately US$800,000, upon the same terms set forth under the larger offering.
Acasti, headquartered in Laval, Québec, is a biopharmaceutical innovator focused on the research, development and commercialization of prescription drugs using omega-3 fatty acids derived from krill oil.
Osler, Hoskin & Harcourt LLP represented Acasti Pharma Inc. with a team led by François Paradis that included Jason Comerford, Jeremy Brisset and Jillian Mulroy (Corporate) .