ACST Stock – (NASDAQ: ACST) is actually providing 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 actually providing an update on the usage of its “at the market” equity offering 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. and H.C. Wainwright & Co., LLC (collectively, the “Agents”), to put into practice a “at the market” equity offering program under which Acasti might 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 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 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 ended up being offered at prevailing market prices averaging US$1.0747 a share. No securities were offered 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 seven, 2020, and 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 consequence of the latest ATM sales, Acasti has a total of 200,119,659 typical shares issued and great as of March 5, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and will provide the Company with more flexibility in its ongoing review process to explore 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 medications making use of OM3 fatty acids delivered both as totally free fatty acids and bound-to-phospholipid esters, derived from krill oil. OM3 fatty acids have extensive clinical evidence of safety as well as efficacy for lowering triglycerides in individuals with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being developed for individuals with severe HTG.
Forward Looking Statements – ACST Stock
Statements of that press release which are not statements of current or historical truth 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 statements involve known and unknown risks, uncertainties, along with other unknown elements that could result in the actual results of Acasti to be materially different from historical outcomes and even from any later results expressed or even implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, people are actually urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or other similar expressions to be forward-looking and uncertain. People are actually cautioned not to place undue reliance on these forward-looking statements, which speak simply as of the particular date of this particular press release. Forward-looking assertions in that press release include, but aren’t limited to, statements or information about Acasti’s strategy, succeeding operations and its review of strategic options.
The forward looking assertions contained in this press release are expressly qualified in their entirety 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 available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at giving www.sedar.com and also on the investor area of Acasti’s website at www.acastipharma.com. All forward looking assertions in that press release are made as of the day of this particular press release.
ACST Stock – Acasti does not undertake to update some such forward looking statements whether as a direct result of information which is new, future events or otherwise, except as called for by law. The forward-looking claims contained herein are also subject typically to assumptions and risks as well as uncertainties that are discussed from time to time in Acasti’s public securities filings with the Securities as well as The Canadian and exchange Commission 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