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 actually giving an update on the usage of its “at-the market” equity providing plan.
As earlier 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. 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 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 necessary pursuant to the policies of the TSX Venture Exchange (“TSXV”), since the last distributions reported on January twenty seven, 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 million. The ATM Shares ended up being offered at prevailing market rates averaging US$1.0747 per share. No securities had been sold in the facilities of the TSXV or, to the understanding 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 the Sales Agreement. Pursuant to the Sales Agreement, a money commission of 3.0 % on the aggregate yucky 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 common shares issued and great as of March five, 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 explore and evaluate strategic alternatives.
Approximately Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically centered on the research, commercialization and development of prescribed drugs making use of OM3 greasy acids delivered both as totally free fatty acids and bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have extensive clinical proof of efficacy and safety for lowering triglycerides in clients with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being created for patients with serious HTG.
Forward Looking Statements – ACST Stock
Statements in that press release that are not statements of current or historical fact constitute “forward-looking information” within 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 claims include known and unknown risks, uncertainties, along with other unknown elements that can cause the particular outcomes of Acasti to be materially different from historical outcomes or from any future results expressed or even implied by such forward-looking statements. In addition to statements which explicitly describe these types of risks as well as uncertainties, people are urged to look at statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or any other similar expressions to be uncertain and forward-looking. Readers are actually cautioned not to place undue reliance on these forward looking statements, which speak just as of the date of this press release. Forward-looking claims in that press release include, but aren’t limited to, info or statements concerning Acasti’s strategy, succeeding operations and the review of its of strategic alternatives.
The forward-looking statements found in this specific press release are expressly qualified in their entirety by this alerting statement, the “Special Note Regarding Forward-Looking Statements” area 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 as well as on the investor section of Acasti’s website at www.acastipharma.com. Many forward-looking statements in this press release are manufactured 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 information which is brand new, future events or perhaps otherwise, except as needed by law. The forward looking assertions contained herein are also subject typically to risks and assumptions and uncertainties that are actually discussed from time to time in Acasti’s public securities filings with the Securities and The Canadian and exchange Commission securities commissions, including 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