ACST Stock – (NASDAQ: ACST) is giving an update on the use
ACST Stock – (NASDAQ: ACST) is actually giving 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 giving an update on the usage of the “at the market” equity of its offering program.
As earlier disclosed, Acasti entered into an amended as well as restated ATM sales agreement on June 29, 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 program under which Acasti may issue and promote from time to time the everyday shares of its having an aggregate offering price of up to $75 million in 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 final distributions found on January 27, 2021, Acasti issued an aggregate of 20,159,229 common shares (the “ATM Shares”) with the NASDAQ Stock Market for aggregate gross proceeds to the Company of US$21.7 huge number of. The ATM Shares were marketed at prevailing market prices averaging US$1.0747 a share. No securities had been offered through the facilities of the TSXV or maybe, to the expertise of the Company, in Canada. The ATM Shares were sold pursuant to a U.S. registration statement on Form S-3 (No. 333-239538) as made effective on July 7, 2020, and the Sales Agreement. Pursuant to the Sales Agreement, a cash commission of 3.0 % on the aggregate yucky proceeds raised was paid to the Agents in connection with the services of theirs. As a consequence of the recent ATM sales, Acasti has a total of 200,119,659 typical shares issued and outstanding as of March 5, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and often will provide the Company with supplemental flexibility in its continuous review process to enjoy and evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically concentrated on the research, commercialization and development of prescription drugs making use of OM3 fatty acids delivered both as totally free fatty acids as well as bound-to-phospholipid esters, derived from krill oil. OM3 fatty acids have extensive clinical evidence of efficacy and safety for lowering triglycerides in clients with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being created for individuals with serious HTG.
Forward Looking Statements – ACST Stock
Statements of that press release which are not statements of current or historical fact constitute “forward-looking information” to the meaning of Canadian securities laws and “forward looking statements” within the meaning of U.S. federal securities laws (collectively, “forward looking statements”). Such forward-looking claims include known and unknown risks, uncertainties, along with other unknown factors that could cause the particular outcomes of Acasti to be materially different from historical outcomes and from any later outcomes expressed or even implied by such forward-looking statements. In addition to statements which explicitly describe such risks as well as uncertainties, readers are urged to give some thought to statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or some other similar expressions to be forward-looking and uncertain. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak simply as of the date of this press release. Forward-looking assertions in this press release include, but aren’t confined to, statements or info concerning Acasti’s strategy, future operations as well as the review of its of strategic options.
The forward looking statements contained in this specific press release are expressly qualified in their entirety by this alerting statement, the “Special Note Regarding Forward-Looking Statements” area found 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 and also on the investor aisle of Acasti’s website at www.acastipharma.com. All forward-looking statements in that press release are made as of the day of this press release.
ACST Stock – Acasti does not undertake to upgrade any such forward-looking statements whether as a result of new information, future events or otherwise, except as called for by law. The forward-looking statements contained herein are also subject typically to risks and assumptions and uncertainties that are described from time to time in Acasti’s public securities filings with the Securities as well as exchange Commission and The Canadian securities commissions, including Acasti’s latest annual report on Form 10 K and quarterly report on Form 10-Q underneath the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is providing an update on the use