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 the “Company”) ACST Stock (NASDAQ: ACST – TSX V: ACST) is providing an update on the use of its “at the market” equity offering program.
As previously 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. Co. and Wainwright, LLC (collectively, the “Agents”), to put into practice an “at-the market” equity offering system under which Acasti may well issue and promote 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 final distributions found on January 27, 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 zillion. The ATM Shares were offered at prevailing market rates averaging US$1.0747 a share. No securities were sold in the facilities of the TSXV or perhaps, to the understanding 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 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 given to the Agents in connection with the services of theirs. As a direct result of the recent ATM sales, Acasti has a total of 200,119,659 typical shares issued and great as of March five, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and can supply the Company with additional flexibility in its continuous review process to explore and evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically centered on the research, development and commercialization of prescription drugs using OM3 fatty acids delivered both as totally free fatty acids and bound-to-phospholipid esters, created from krill oil. OM3 fatty acids have substantial clinical evidence of efficacy and safety for lowering triglycerides in patients with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being developed for people with severe HTG.
Forward Looking Statements – ACST Stock
Statements in that press release which aren’t statements of historical or current truth constitute “forward-looking information” within 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 claims involve known and unknown risks, uncertainties, and other unknown elements that can result in the actual results of Acasti to be materially different from historical success and even as a result of any later outcomes expressed or perhaps implied by such forward looking statements. In addition to statements which explicitly describe these types of risks and 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 other related expressions to be uncertain and forward-looking. Readers are actually cautioned not to place undue reliance on these forward looking statements, which speak simply as of the particular date of this press release. Forward-looking statements in this press release include, but are not restricted to, statements or info concerning Acasti’s strategy, succeeding operations as well as its review of strategic alternatives.
The forward-looking assertions contained in this press release are expressly qualified in their entirety by this alerting statement, 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 on the investor section of Acasti’s site at www.acastipharma.com. Many forward-looking assertions in that press release are produced as of the date of this press release.
ACST Stock – Acasti does not undertake to redesign any such forward looking statements whether as a consequence of info that is new , future events or perhaps otherwise, except as needed by law. The forward-looking statements contained herein are also subject typically to risks and assumptions as well as uncertainties that are actually described from time to time in Acasti’s public securities filings with the Securities as well as exchange Commission and The Canadian securities commissions, like 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 providing an update on the use