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 the “Company”) ACST Stock (NASDAQ: ACST – TSX V: ACST) is providing an update on the use of the “at the market” equity of its offering plan.
As earlier 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. and H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to put into practice an “at-the market” equity offering program under which Acasti might issue as well as sell 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 found on January twenty seven, 2021, Acasti issued 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 huge number of. The ATM Shares were sold at prevailing market costs averaging US$1.0747 a share. No securities had been marketed in the facilities of the TSXV or perhaps, 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 seven, 2020, as well as the Sales Agreement. Pursuant to the Sales Agreement, a money commission of 3.0 % on the aggregate yucky proceeds raised was given 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 outstanding as of March 5, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and can provide the Company with extra flexibility in its ongoing review process to enjoy 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 prescribed drugs using OM3 fatty acids delivered both as totally free fatty acids as well as bound-to-phospholipid esters, created from krill oil. OM3 fatty acids have extensive clinical proof of efficacy and safety for lowering triglycerides in individuals 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 current or historical fact constitute “forward-looking information” within 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 statements include known and unknown risks, uncertainties, as well as other unknown components that might result in the particular results of Acasti to be materially different from historical success and even from any future outcomes expressed or perhaps implied by such forward-looking statements. In addition to statements which explicitly describe such risks as well as uncertainties, people are urged to look at statements marked with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or any other similar expressions to be uncertain and forward-looking. People are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the particular date of this press release. Forward-looking assertions in this press release include, but are not limited to, info or statements concerning Acasti’s strategy, succeeding operations and the review of its of strategic alternatives.
The forward-looking statements contained in this specific press release are expressly qualified in their entirety by this cautionary declaration, the “Special Note Regarding Forward-Looking Statements” section found in Acasti’s newest annual report on Form 10 K and quarterly report on Form 10-Q, which are actually readily available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com as well as on the investor aisle of Acasti’s website at www.acastipharma.com. Many forward looking assertions in that press release are manufactured as of the day of this particular press release.
ACST Stock – Acasti doesn’t undertake to upgrade some such forward looking statements whether as a result of brand new information, future events or even otherwise, except as required 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 as well as exchange Commission and The Canadian securities commissions, like Acasti’s latest annual report on Form 10-K and quarterly report on Form 10 Q underneath the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is actually providing an update on the usage