ACST Stock – (NASDAQ: ACST) is giving 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 use 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 29, 2020 (the “Sales Agreement”) with B. Riley FBR Inc., Oppenheimer & Co. Inc. and also H.C. Wainwright & Co., LLC (collectively, the “Agents”), to implement a “at the market” equity offering system under which Acasti may issue as well as sell from time to time its everyday shares having an aggregate offering price of up to seventy five dolars 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 end distributions reported on January twenty seven, 2021, Acasti granted 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 prices averaging US$1.0747 per share. No securities were sold through the facilities of the TSXV or, to the knowledge of the Company, in Canada. The ATM Shares were offered pursuant to a U.S. registration statement on Form S-3 (No. 333-239538) as made effective on July seven, 2020, and also the Sales Agreement. Pursuant to the Sales Agreement, a cash commission of 3.0 % on the aggregate yucky proceeds raised was given to the Agents in connection with their services. As a result of the latest ATM sales, Acasti has a total of 200,119,659 common shares issued and superb as of March 5, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and can supply the Company with additional freedom in its continuous review process to enjoy as well as evaluate strategic options.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically centered on the research, commercialization and development of prescription drugs making use of OM3 greasy acids delivered both as free fatty acids and bound-to-phospholipid esters, derived from krill oil. OM3 fatty acids have substantial clinical evidence of efficacy as well as safety in lowering triglycerides in clients with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being formulated for people with severe HTG.
Forward Looking Statements – ACST Stock
Statements in this press release that are not statements of historical or current truth constitute “forward-looking information” within the meaning of Canadian securities laws and “forward looking statements” within the meaning of U.S. federal securities laws (collectively, “forward looking statements”). Such forward-looking statements include known and unknown risks, uncertainties, and other unknown elements that might cause the particular outcomes of Acasti to be materially different from historical outcomes and even from any future results expressed or even implied by such forward-looking statements. In addition to statements which explicitly describe these types of risks as well as uncertainties, readers are actually 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 forward-looking and uncertain. People are actually cautioned not to place undue reliance on these forward-looking statements, which speak simply as of the particular date of this particular press release. Forward-looking claims in that press release include, but aren’t limited to, statements or info concerning Acasti’s strategy, future operations and its review of strategic alternatives.
The forward looking assertions found in this press release are expressly qualified in the entirety of theirs by this alerting statement, the “Special Note Regarding Forward Looking Statements” area in Acasti’s newest annual report on Form 10 K and quarterly report on Form 10-Q, which are actually available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at giving www.sedar.com and also on the investor area of Acasti’s website at www.acastipharma.com. All forward looking claims in this press release are produced as of the date of this press release.
ACST Stock – Acasti doesn’t undertake to update some such forward looking statements whether as a direct result of information which is new, future events or otherwise, except as called for by law. The forward-looking statements contained herein are also subject generally to assumptions and risks and 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 actually giving an update on the usage