ACST Stock – (NASDAQ: ACST) is actually giving an update on the use
As necessary pursuant to the policies of the TSX Venture Exchange, Acasti Pharma Inc. (“Acasti or perhaps the “Company”) ACST Stock (NASDAQ: ACST – TSX-V: ACST) is giving an update on the usage of its “at the market” equity providing plan.
As previously disclosed, Acasti entered into an amended and restated ATM sales agreement on June 29, 2020 (the “Sales Agreement”) with B. Riley FBR Inc., Oppenheimer & Co. Inc. and H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to implement an “at-the market” equity offering program under which Acasti may issue and promote from time to time the common shares of its having an aggregate offering price of up to $75 million through the Agents (the “ATM Program”).
ACST Stock – Pursuant to the ATM Program, as required pursuant to the policies of the TSX Venture Exchange (“TSXV”), since the end distributions reported on January 27, 2021, Acasti granted an aggregate of 20,159,229 typical shares (the “ATM Shares”) with the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 million. The ATM Shares ended up being offered at prevailing market rates averaging US$1.0747 a share. No securities had been sold through the facilities of the TSXV or, 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 seven, 2020, and the Sales Agreement. Pursuant to the Sales Agreement, a money commission of 3.0 % on the aggregate gross proceeds raised was paid to the Agents in connection with the services of theirs. As a consequence of the latest ATM sales, Acasti has a total of 200,119,659 typical shares issued and superb as of March five, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and will provide the Company with supplemental freedom in its ongoing review process to enjoy and evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is actually 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, created from krill oil. OM3 fatty acids have substantial clinical evidence of efficacy and safety in lowering triglycerides in individuals with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being formulated for people with severe HTG.
Forward Looking Statements – ACST Stock
Statements in that press release that are not statements of historical or current fact constitute “forward-looking information” to the meaning of Canadian securities laws as well as “forward looking statements” to the meaning of U.S. federal securities laws (collectively, “forward looking statements”). Such forward-looking statements involve known and unknown risks, uncertainties, and other unknown variables that could result in the actual outcomes of Acasti to be materially different from historical success or from any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe these types of risks and uncertainties, readers are actually urged to give some thought to statements marked with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or other similar expressions to be forward-looking and uncertain. Readers are cautioned not to place undue reliance on these forward looking statements, which speak only as of the day of this press release. Forward-looking assertions in that press release include, but are not restricted to, statements or information about Acasti’s strategy, future operations as well as the review of its of strategic options.
The forward looking statements found in this specific press release are expressly qualified in their entirety by this cautionary statement, the “Special Note Regarding Forward-Looking Statements” area in Acasti’s latest annual report on Form 10-K and quarterly report on Form 10 Q, which are available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com as well as on the investor section of Acasti’s website at www.acastipharma.com. All forward-looking statements in this press release exist as of the date of this particular press release.
ACST Stock – Acasti doesn’t undertake to upgrade some such forward-looking statements whether as a consequence of brand new info, future events or perhaps otherwise, except as required by law. The forward looking assertions contained herein are also subject typically to risks and assumptions as well as uncertainties that are actually described from time to time in Acasti’s public securities filings with the Securities as well as The Canadian and exchange Commission securities commissions, including Acasti’s newest annual report on Form 10 K and quarterly report on Form 10-Q underneath the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is giving an update on the use