ACST Stock – (NASDAQ: ACST) is actually providing an update on the usage
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 giving 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 twenty nine, 2020 (the “Sales Agreement”) with B. Riley FBR Inc., Oppenheimer & Co. Inc. and also H.C. Wainwright & Co., LLC (collectively, the “Agents”), to implement an “at-the market” equity offering system under which Acasti may well 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 final distributions found on January 27, 2021, Acasti granted an aggregate of 20,159,229 common shares (the “ATM Shares”) with the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 zillion. The ATM Shares were offered at prevailing market rates averaging US$1.0747 per share. No securities had been sold through the facilities of the TSXV or, 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, 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 result of the recent ATM sales, Acasti has a total of 200,119,659 common shares issued and great as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and will supply the Company with additional flexibility in its ongoing review process to explore as well as evaluate strategic alternatives.
Approximately Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically focused on the research, development and commercialization of prescription medications making use of OM3 greasy acids delivered both as totally free fatty acids as well as bound-to-phospholipid esters, derived from krill oil. OM3 fatty acids have extensive clinical evidence of efficacy and safety in lowering triglycerides in individuals with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being created for patients with serious HTG.
Forward Looking Statements – ACST Stock
Statements in 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 claims include known and unknown risks, uncertainties, and other unknown factors that may cause the actual outcomes of Acasti to be materially different from historical results and even from any future results expressed or perhaps implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, people are actually urged to give some thought to statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or some 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 date of this particular press release. Forward-looking statements in that press release include, but aren’t confined to, statements or information concerning Acasti’s strategy, future operations and the review of its of strategic options.
The forward looking assertions contained in this press release are expressly qualified in their entirety by this cautionary statement, the “Special Note Regarding Forward-Looking Statements” area found 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 giving www.sedar.com as well as on the investor area of Acasti’s site at www.acastipharma.com. Most forward-looking statements in this press release are manufactured as of the day of this press release.
ACST Stock – Acasti doesn’t undertake to update any such forward looking statements whether as a consequence of info which is new, future events or otherwise, except as required by law. The forward-looking assertions 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 The Canadian and exchange Commission securities commissions, including 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 giving an update on the usage