ACST Stock – (NASDAQ: ACST) is actually providing an update on the use
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 giving an update on the usage of its “at the market” equity providing program.
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. and also H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to carry out a “at the market” equity offering program under which Acasti may well issue and promote 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 necessary pursuant to the policies of the TSX Venture Exchange (“TSXV”), since the end distributions reported on January 27, 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 huge number of. The ATM Shares ended up being marketed at prevailing market costs averaging US$1.0747 a share. No securities had been offered in the facilities of the TSXV or, to the expertise 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 7, 2020, as well as the Sales Agreement. Pursuant to the Sales Agreement, a money commission of 3.0 % on the aggregate gross proceeds raised was given to the Agents in connection with their services. As a result of the recent 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 can deliver the Company with more freedom in its ongoing review process to check out and evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically focused on the research, commercialization and development of prescribed drugs making use of OM3 greasy acids delivered both as totally free fatty acids and bound-to-phospholipid esters, derived from krill oil. OM3 fatty acids have extensive clinical evidence of efficacy as well as safety in lowering triglycerides in individuals with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being developed for clients with severe HTG.
Forward Looking Statements – ACST Stock
Statements of this press release which are not statements of historical or current fact constitute “forward-looking information” to 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 assertions involve known and unknown risks, uncertainties, as well as other unknown elements that may result in the particular outcomes of Acasti to be materially different from historical results or as a result of any future outcomes expressed or even implied by such forward-looking statements. In addition to statements which explicitly describe these kinds of risks and uncertainties, people are urged to look at statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or any other similar expressions to be forward-looking and uncertain. Readers are actually cautioned not to place undue reliance on these forward-looking statements, which speak only as of the particular date of this press release. Forward-looking assertions in this press release include, but aren’t restricted to, information or statements about Acasti’s strategy, future operations as well as its review of strategic options.
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 found 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 giving www.sedar.com as well as on the investor area of Acasti’s website at www.acastipharma.com. Most forward looking claims in this press release are produced as of the day of this particular press release.
ACST Stock – Acasti doesn’t undertake to upgrade some such forward looking statements whether as a result of info which is new, future events or perhaps otherwise, except as needed by law. The forward-looking statements contained herein are also subject typically to risks and assumptions and uncertainties that are actually 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 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