ACST Stock – (NASDAQ: ACST) is giving an update on the use
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 actually giving an update on the usage of the “at the market” equity of its offering plan.
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. Co. and Wainwright, LLC (collectively, the “Agents”), to implement an “at-the market” equity offering program under which Acasti may well issue as well as market from time to time its common shares 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 final distributions found on January 27, 2021, Acasti given an aggregate of 20,159,229 common shares (the “ATM Shares”) with the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 million. The ATM Shares had been offered at prevailing market prices averaging US$1.0747 per share. No securities had been offered throughout the facilities of the TSXV or perhaps, to the understanding 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 seven, 2020, as well as 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 direct result of the recent ATM sales, Acasti has a total of 200,119,659 common shares issued and great as of March 5, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and often will deliver the Company with additional flexibility in its continuous review process to check out as well as evaluate strategic alternatives.
Approximately Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically focused 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, derived 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 created for individuals with severe HTG.
Forward Looking Statements – ACST Stock
Statements of this 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 include known and unknown risks, uncertainties, along with other unknown variables that might result in the particular outcomes of Acasti to be materially different from historical success or from any later outcomes expressed or perhaps implied by such forward looking statements. In addition to statements which explicitly describe these types of risks and uncertainties, readers are actually urged to look at statements labeled 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. Readers are actually cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Forward-looking assertions in that press release include, but aren’t restricted to, information or statements concerning Acasti’s strategy, succeeding operations and its review of strategic options.
The forward looking claims contained in this press release are expressly qualified in the entirety of theirs by this cautionary declaration, 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 actually 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. All forward-looking claims in that press release exist as of the day of this press release.
ACST Stock – Acasti doesn’t undertake to update some such forward looking statements whether as a direct result of info which is brand new, future events or perhaps otherwise, except as needed by law. The forward-looking assertions contained herein are also subject generally to risks and assumptions and uncertainties that are 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 latest annual report on Form 10 K and quarterly report on Form 10-Q under the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is actually giving an update on the usage