ACST Stock – (NASDAQ: ACST) is actually providing an update on the usage
As required pursuant to the policies of the TSX Venture Exchange, Acasti Pharma Inc. (“Acasti or maybe the “Company”) ACST Stock (NASDAQ: ACST – TSX-V: ACST) is providing an update on the usage of its “at-the market” equity offering program.
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. and also H.C. Wainwright & Co., LLC (collectively, the “Agents”), to carry out a “at the market” equity offering program under which Acasti may issue and sell from time to time its common shares having an aggregate offering price of up to seventy five dolars million in 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 last distributions reported on January 27, 2021, Acasti given an aggregate of 20,159,229 typical shares (the “ATM Shares”) over 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 costs averaging US$1.0747 a share. No securities were sold in the facilities of the TSXV or, to the knowledge 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 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 the services of theirs. As a result of the latest ATM sales, Acasti has a total of 200,119,659 typical shares issued and outstanding as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and will deliver the Company with additional freedom in its continuous 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 free fatty acids as well as bound-to-phospholipid esters, created from krill oil. OM3 fatty acids have substantial clinical evidence of safety and efficacy in lowering triglycerides in people with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being developed for patients with serious HTG.
Forward Looking Statements – ACST Stock
Statements of that press release that are not statements of historical or current fact constitute “forward-looking information” within the meaning of Canadian securities laws and “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 elements that can result in the particular results of Acasti to be materially different from historical results and from any later results expressed or perhaps implied by such forward looking statements. In addition to statements which explicitly describe such 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 other related expressions to be forward-looking and uncertain. People are cautioned not to place undue reliance on these forward looking statements, which speak only as of the particular date of this press release. Forward-looking statements in that press release include, but are not restricted to, info or statements concerning Acasti’s strategy, succeeding operations as well as its review of strategic alternatives.
The forward-looking assertions contained in this specific press release are expressly qualified in the entirety of theirs by this alerting declaration, the “Special Note Regarding Forward Looking Statements” section contained in Acasti’s newest annual report on Form 10 K and quarterly report on Form 10 Q, which are readily available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com and on the investor section of Acasti’s website at www.acastipharma.com. Many forward-looking claims in this press release are made as of the particular date of this press release.
ACST Stock – Acasti does not undertake to upgrade some such forward looking statements whether as a direct result of info which is new, future events or perhaps 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 and 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