Acasti announces $7.5 million private placement equity financing

Princeton, n.j., sept. 26, 2023 (globe newswire) -- acasti pharma inc. (nasdaq: acst) (acasti or the company), a late-stage, biopharma company advancing gtx-104, its novel formulation of nimodipine that addresses the high unmet medical needs for a rare disease, aneurysmal subarachnoid hemorrhage (asah), today announced that it has closed a private placement of the company's securities pursuant to the terms of a securities purchase agreement, dated september 24, 2023, by and between the company and certain institutional and accredited investors (the “purchase agreement”). pursuant to the terms of the purchase agreement, the company issued and sold an aggregate of 1,951,371 common shares, no par value per share, pre-funded warrants (the “pre-funded warrants”) to purchase up to an aggregate of 2,106,853 common shares, each at a purchase price of $1.8481 per common share or pre-funded warrant (less $0.0001 per pre-funded warrant) and accompanying common warrants (the “common warrants”) to purchase up to an aggregate of 2,536,391 common shares, in a private placement priced at-the-market under nasdaq rules. the private placement closed on september 25, 2023.
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