ACST Stock – (NASDAQ: ACST) is actually providing an update on the use
As required 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 providing an update on the usage of its “at the market” equity offering plan.
As previously disclosed, Acasti entered into an amended as well as restated ATM sales agreement on June twenty nine, 2020 (the “Sales Agreement”) with B. Riley FBR Inc., Oppenheimer & Co. Inc. along with H.C. Wainwright & Co., LLC (collectively, the “Agents”), to implement a “at the market” equity offering system under which Acasti may well issue and market from time to time its common shares having an aggregate offering price of up to seventy five dolars million throughout 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 end distributions reported on January 27, 2021, Acasti issued an aggregate of 20,159,229 common shares (the “ATM Shares”) over the NASDAQ Stock Market for aggregate gross proceeds to the Company of US$21.7 million. The ATM Shares were sold at prevailing market costs averaging US$1.0747 a share. No securities had been sold through the facilities of the TSXV or maybe, 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, 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 recent ATM sales, Acasti has a total of 200,119,659 typical shares issued and outstanding as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and often will supply the Company with more freedom in its ongoing review process to enjoy as well as evaluate strategic options.
About Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically centered on the research, development and commercialization of prescribed drugs using OM3 greasy acids delivered both as free fatty acids and bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have substantial clinical evidence of efficacy and safety for lowering triglycerides in individuals with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being developed for individuals with serious HTG.
Forward Looking Statements – ACST Stock
Statements of that press release that are not statements of current or historical truth constitute “forward looking information” to the meaning of Canadian securities laws as well as “forward looking statements” within the meaning of U.S. federal securities laws (collectively, “forward-looking statements”). Such forward-looking assertions include known and unknown risks, uncertainties, as well as other unknown variables that can result in the particular outcomes of Acasti to be materially different from historical outcomes or as a result of any later results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe these types of risks as well as uncertainties, readers are urged to give some thought to statements marked with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or any 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 day of this press release. Forward-looking assertions in that press release include, but aren’t limited to, information or statements concerning Acasti’s strategy, succeeding operations and the review of its of strategic alternatives.
The forward looking claims contained in this specific press release are expressly qualified in the entirety of theirs by this alerting declaration, the “Special Note Regarding Forward Looking Statements” section 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 and also on the investor area of Acasti’s website at www.acastipharma.com. Most forward looking assertions in this press release are produced as of the date of this press release.
ACST Stock – Acasti doesn’t undertake to upgrade any such forward looking statements whether as a consequence of information which is new, future events or otherwise, except as called for by law. The forward looking claims contained herein are also subject generally to assumptions and risks as well as uncertainties that are actually 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 providing an update on the use