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 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 earlier 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. Wainwright & Co., LLC (collectively, the “Agents”), to put into practice an “at-the market” equity offering program under which Acasti may issue as well as promote from time to time its common shares having an aggregate offering price of up to $75 million in 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”) with the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 huge number of. The ATM Shares had been marketed at prevailing market prices averaging US$1.0747 a share. No securities were sold in the facilities of the TSXV or maybe, 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 yucky proceeds raised was paid to the Agents in connection with their services. As a direct result of the latest ATM sales, Acasti has a total of 200,119,659 typical shares issued and outstanding as of March 5, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and can supply the Company with extra freedom in its continuous review process to enjoy as well as evaluate strategic options.
Approximately Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically concentrated on the research, development and commercialization of prescribed drugs using OM3 greasy acids delivered both as totally free fatty acids as well as bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have extensive clinical proof of efficacy and safety in lowering triglycerides in people with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being created for individuals with severe HTG.
Forward Looking Statements – ACST Stock
Statements in this press release which are not statements of current or historical 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 include known and unknown risks, uncertainties, and other unknown factors that might result in the particular results of Acasti to be materially different from historical results and as a result of any later outcomes expressed or implied by such forward-looking statements. In addition to statements which explicitly describe these kinds of risks and uncertainties, people are actually urged to give some thought to statements marked with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or other similar expressions to be forward-looking and uncertain. Readers are 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 assertions in that press release include, but are not restricted to, information or statements about Acasti’s strategy, succeeding operations as well as the review of its of strategic options.
The forward looking claims found 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 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 www.sedar.com and on the investor area of Acasti’s website at www.acastipharma.com. Most forward looking assertions in that press release are produced as of the particular date of this particular press release.
ACST Stock – Acasti does not undertake to redesign some such forward looking statements whether as a direct result of new information, future events or otherwise, except as required by law. The forward looking claims contained herein are also subject generally 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 The Canadian and exchange Commission 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 providing an update on the use