ACST Stock – (NASDAQ: ACST) is providing an update on the use
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 providing an update on the usage of the “at the market” equity of its offering program.
As previously 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. and also H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to put into practice a “at the market” equity offering system under which Acasti may well issue and sell from time to time the common shares of its having an aggregate offering price of up to seventy five dolars 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 reported on January twenty seven, 2021, Acasti given an aggregate of 20,159,229 typical 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 sold at prevailing market prices averaging US$1.0747 a share. No securities had been sold through the facilities of the TSXV or perhaps, to the knowledge 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, 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 the services of theirs. As a result of the recent ATM sales, Acasti has a total of 200,119,659 common shares issued and outstanding as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and can deliver the Company with supplemental freedom in its continuous review process to enjoy and evaluate strategic alternatives.
Approximately Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically focused on the research, commercialization and development of prescription drugs making use of OM3 greasy acids delivered both as totally free fatty acids and bound-to-phospholipid esters, derived from krill oil. OM3 fatty acids have extensive clinical proof of safety and efficacy for lowering triglycerides in patients with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being formulated for patients with severe HTG.
Forward Looking Statements – ACST Stock
Statements in this press release that aren’t statements of current or historical 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 claims involve known and unknown risks, uncertainties, as well as other unknown components that can result in the particular outcomes of Acasti to be materially different from historical results and as a result of any later results expressed or even implied by such forward looking statements. In addition to statements which explicitly describe these kinds of risks and uncertainties, people are actually urged to look at statements marked with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or any other related 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 date of this particular press release. Forward-looking claims in that press release include, but are not limited to, statements or information concerning Acasti’s strategy, succeeding operations and the review of its of strategic options.
The forward looking claims contained in this press release are expressly qualified in the entirety of theirs by this cautionary statement, the “Special Note Regarding Forward Looking Statements” area contained in Acasti’s latest 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 giving www.sedar.com as well as on the investor aisle of Acasti’s website at www.acastipharma.com. Most forward looking assertions in this press release are available as of the day of this press release.
ACST Stock – Acasti doesn’t undertake to update some such forward looking statements whether as a result of info that is brand new , future events or perhaps otherwise, except as required by law. The forward looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are actually described 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 providing an update on the usage