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 actually giving an update on the usage of the “at the market” equity of its offering plan.
As earlier disclosed, Acasti entered into an amended and restated ATM sales agreement on June twenty nine, 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 well issue and promote from time to time its common shares having an aggregate offering price of up to $75 million throughout 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 final distributions reported on January twenty seven, 2021, Acasti granted an aggregate of 20,159,229 typical shares (the “ATM Shares”) with the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 million. The ATM Shares were offered at prevailing market costs averaging US$1.0747 a share. No securities had been marketed 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 7, 2020, and 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 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 will provide the Company with extra flexibility in its continuous review process to explore and evaluate strategic options.
Approximately 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 totally free fatty acids as well as bound-to-phospholipid esters, derived from krill oil. OM3 fatty acids have extensive clinical proof of safety and efficacy for lowering triglycerides in patients with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being formulated for patients with severe HTG.
Forward Looking Statements – ACST Stock
Statements of that press release that are not statements of current or historical fact constitute “forward-looking information” within 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, along with other unknown elements that can cause the particular results of Acasti to be materially different from historical success and even from any later outcomes expressed or perhaps implied by such forward looking statements. In addition to statements which explicitly describe such risks and 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 similar expressions to be forward-looking and uncertain. People are actually cautioned not to place undue reliance on these forward looking statements, which speak only as of the day of this press release. Forward-looking assertions in that press release include, but aren’t restricted to, info or statements about Acasti’s strategy, future operations and its review of strategic alternatives.
The forward looking assertions contained in this specific press release are expressly qualified in the entirety of theirs by this cautionary statement, the “Special Note Regarding Forward-Looking Statements” section contained 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 www.sedar.com as well as on the investor area of Acasti’s site at www.acastipharma.com. Many forward-looking statements in this press release are manufactured as of the particular date of this particular press release.
ACST Stock – Acasti does not undertake to redesign any such forward-looking statements whether as a result of brand new information, future events or even otherwise, except as required by law. The forward-looking statements contained herein are also subject generally to risks and assumptions as well as uncertainties that are 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 under the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is actually providing an update on the use