ACST Stock – (NASDAQ: ACST) is providing 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 usage of the “at-the market” equity of its offering plan.
As previously 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. 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 market from time to time its everyday 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 found on January 27, 2021, Acasti issued an aggregate of 20,159,229 typical shares (the “ATM Shares”) over the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 zillion. The ATM Shares had been offered at prevailing market rates averaging US$1.0747 per share. No securities were sold 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 the services of theirs. As a consequence of the latest ATM sales, Acasti has a total of 200,119,659 typical shares issued and outstanding as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and often will supply the Company with additional flexibility in its continuous review process to explore and evaluate strategic options.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically focused on the research, development and commercialization of prescription drugs making use of OM3 greasy acids delivered both as free fatty acids as well as 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 developed for clients with serious HTG.
Forward Looking Statements – ACST Stock
Statements in that press release which 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” to the meaning of U.S. federal securities laws (collectively, “forward looking statements”). Such forward looking claims involve known and unknown risks, uncertainties, as well as other unknown variables that could cause the actual results of Acasti to be materially different from historical success and even as a result of any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe these types of risks and uncertainties, readers 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 any other related expressions to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak just as of the day of this press release. Forward-looking assertions in this press release include, but aren’t limited to, statements or information concerning Acasti’s strategy, succeeding operations as well as the review of its of strategic options.
The forward-looking statements contained in this press release are expressly qualified in their entirety by this alerting declaration, 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 www.sedar.com and also on the investor section of Acasti’s website at www.acastipharma.com. All forward looking statements in that press release are made as of the particular date of this press release.
ACST Stock – Acasti doesn’t undertake to redesign some such forward looking statements whether as a result of information that is brand new , future events or perhaps otherwise, except as needed by law. The forward looking assertions contained herein are also subject typically to assumptions and risks and uncertainties that are discussed 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 newest 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 use