The action during the premarket trading period is sometimes just as important as the action during the regular trading hours and on Monday; the Acasti Pharma Inc (NASDAQ: ACST) stock emerged as one of the notable gainers in premarket trading.
The Acasti stock soared by as high as 13% during the premarket period yesterday after the company provided an update with regards to the market stock offering that it undertook. The company provided the aforementioned update due to the rules in place at the TSX Venture Exchange.
It was back on June 29 last year that the company reached an agreement with H.C. Wainwright & Co, B. Riley FBR Inc, and Oppenheimer & Co Inc with regards to an at the market equity offering worth $75 million. To that end, the company issued as many as 20,159,229 shares in the NASDAQ exchange and managed to raise proceeds of as big as $21.7 million.