ACST Stock – (NASDAQ: ACST) is giving an update on the usage
As necessary pursuant to the policies of the TSX Venture Exchange, Acasti Pharma Inc. (“Acasti or the “Company”) ACST Stock (NASDAQ: ACST – TSX-V: ACST) is providing an update on the use of the “at the market” equity of its offering plan.
As previously disclosed, Acasti entered into an amended and restated ATM sales agreement on June twenty nine, 2020 (the “Sales Agreement”) with B. Riley FBR Inc., Oppenheimer & Co. Inc. along with H.C. Wainwright & Co., LLC (collectively, the “Agents”), to implement an “at-the market” equity offering system under which Acasti may issue as well as market from time to time its everyday shares having an aggregate offering price of up to $75 million throughout the Agents (the “ATM Program”).
ACST Stock – Pursuant to the ATM Program, as necessary pursuant to the policies of the TSX Venture Exchange (“TSXV”), since the final distributions found on January twenty seven, 2021, Acasti given an aggregate of 20,159,229 common shares (the “ATM Shares”) over the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 zillion. The ATM Shares were marketed at prevailing market prices averaging US$1.0747 a share. No securities were sold throughout the facilities of the TSXV or maybe, to the expertise of the Company, in Canada. The ATM Shares were offered pursuant to a U.S. registration statement on Form S 3 (No. 333-239538) as made effective on July 7, 2020, and also the Sales Agreement. Pursuant to the Sales Agreement, a money commission of 3.0 % on the aggregate gross proceeds raised was given to the Agents in connection with their services. As a consequence of the recent ATM sales, Acasti has a total of 200,119,659 common shares issued and superb as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and will deliver the Company with extra flexibility in its continuous review process to check out and evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically centered on the research, development and commercialization of prescribed drugs using OM3 fatty acids delivered both as totally free fatty acids and bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have substantial clinical proof of efficacy as well as safety for lowering triglycerides in clients with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being formulated for patients with severe HTG.
Forward Looking Statements – ACST Stock
Statements of that press release which are not statements of current or historical truth constitute “forward looking information” to the meaning of Canadian securities laws as well as “forward-looking statements” within the meaning of U.S. federal securities laws (collectively, “forward looking statements”). Such forward-looking statements involve known and unknown risks, uncertainties, as well as other unknown components that may cause the particular outcomes of Acasti to be materially different from historical outcomes or from any later results expressed or perhaps implied by such forward looking statements. In addition to statements which explicitly describe these types of risks as well as uncertainties, readers are urged to look at statements marked with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or any other related expressions to be uncertain and forward-looking. People are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the day of this particular press release. Forward-looking assertions in that press release include, but are not limited to, information or statements about Acasti’s strategy, succeeding operations and the review of its of strategic alternatives.
The forward-looking statements found in this press release are expressly qualified in the entirety of theirs by this cautionary declaration, the “Special Note Regarding Forward-Looking Statements” section contained in Acasti’s latest annual report on Form 10 K and quarterly report on Form 10 Q, which are actually readily available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at giving www.sedar.com and also on the investor aisle of Acasti’s site at www.acastipharma.com. Most forward looking statements in that press release exist as of the day of this press release.
ACST Stock – Acasti does not undertake to upgrade any such forward-looking statements whether as a consequence of information that is new , future events or otherwise, except as required by law. The forward looking claims contained herein are also subject generally to assumptions and risks and uncertainties that are actually discussed from time to time in Acasti’s public securities filings with the Securities as well as exchange Commission and The Canadian securities commissions, like Acasti’s newest annual report on Form 10-K and quarterly report on Form 10-Q under the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is providing an update on the usage