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 maybe the “Company”) ACST Stock (NASDAQ: ACST – TSX-V: ACST) is giving an update on the use of the “at the market” equity of its offering plan.
As earlier 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 H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to carry out a “at the market” equity offering program under which Acasti may well issue as well as sell from time to time the everyday shares of its having an aggregate offering price of up to $75 million throughout 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 granted 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 were sold at prevailing market costs averaging US$1.0747 per share. No securities had been offered through the facilities of the TSXV or, 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, as well as 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 their services. As a direct result of the recent 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 often will supply the Company with additional flexibility in its ongoing review process to explore and evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically focused on the research, commercialization and development of prescribed drugs using OM3 greasy acids delivered both as free fatty acids as well as bound-to-phospholipid esters, created from krill oil. OM3 fatty acids have substantial clinical proof of safety as well as efficacy in lowering triglycerides in people with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being created for clients 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” 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 claims include known and unknown risks, uncertainties, along with other unknown components that might result in the actual outcomes of Acasti to be materially different from historical results or as a result of any later outcomes expressed or implied by such forward looking statements. In addition to statements which explicitly describe these kinds of risks as well as uncertainties, people are urged to consider statements marked 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 just as of the particular date of this particular press release. Forward-looking claims in that press release include, but are not confined to, statements or information about Acasti’s strategy, succeeding operations and its review of strategic options.
The forward-looking assertions found in this specific press release are expressly qualified in the entirety of theirs by this alerting declaration, the “Special Note Regarding Forward-Looking Statements” area found in Acasti’s newest 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 area of Acasti’s website at www.acastipharma.com. Many forward looking claims in that press release are manufactured as of the particular date of this press release.
ACST Stock – Acasti does not undertake to redesign some such forward looking statements whether as a direct result of brand new information, future events or otherwise, except as called for by law. The forward-looking claims contained herein are also subject typically to assumptions and risks and uncertainties that are 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