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 perhaps the “Company”) ACST Stock (NASDAQ: ACST – TSX-V: ACST) is actually 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 29, 2020 (the “Sales Agreement”) with B. Riley FBR Inc., Oppenheimer & Co. Inc. and also H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to carry out an “at-the market” equity offering system under which Acasti may well issue as well as market from time to time its common shares having an aggregate offering price of up to seventy five dolars 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 last distributions reported on January 27, 2021, Acasti issued an aggregate of 20,159,229 common shares (the “ATM Shares”) over the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 million. The ATM Shares were marketed at prevailing market prices averaging US$1.0747 per share. No securities had been sold throughout the facilities of the TSXV or perhaps, to the knowledge 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 7, 2020, and also the Sales Agreement. Pursuant to the Sales Agreement, a cash commission of 3.0 % on the aggregate yucky proceeds raised was paid to the Agents in connection with their services. As a consequence 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 often will deliver the Company with additional flexibility in its ongoing review process to explore and evaluate strategic options.
About Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically focused on the research, commercialization and development of prescription drugs making use of OM3 fatty acids delivered both as free fatty acids as well as bound-to-phospholipid esters, created from krill oil. OM3 fatty acids have extensive clinical proof of safety and efficacy in lowering triglycerides in people with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being developed for individuals with serious HTG.
Forward Looking Statements – ACST Stock
Statements in that press release that are not statements of current or historical fact 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 claims include known and unknown risks, uncertainties, along with other unknown components that may cause the particular outcomes of Acasti to be materially different from historical outcomes or from any later results expressed or even implied by such forward-looking statements. In addition to statements which explicitly describe such risks and 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 other similar expressions to be forward-looking and uncertain. People 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 statements in that press release include, but aren’t limited to, info or statements concerning Acasti’s strategy, succeeding operations and its review of strategic alternatives.
The forward looking assertions found in this press release are expressly qualified in their entirety by this cautionary 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 actually readily 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. Most forward looking assertions in this press release are made as of the day of this particular press release.
ACST Stock – Acasti does not undertake to update any such forward looking statements whether as a direct result of brand new information, future events or otherwise, except as needed by law. The forward-looking claims contained herein are also subject typically to risks and assumptions as well as uncertainties that are described from time to time in Acasti’s public securities filings with the Securities and The Canadian and exchange Commission securities commissions, including Acasti’s latest annual report on Form 10 K and quarterly report on Form 10 Q under the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is providing an update on the usage