ACST Stock – (NASDAQ: ACST) is giving an update on the use
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 actually giving an update on the use of its “at the market” equity offering plan.
As earlier 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. and H.C. Wainwright & Co., LLC (collectively, the “Agents”), to implement a “at the market” equity offering program under which Acasti may issue and promote from time to time the common shares of its having an aggregate offering price of up to $75 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 27, 2021, Acasti issued 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 ended up being sold at prevailing market costs averaging US$1.0747 per share. No securities were sold throughout 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, as well as the Sales Agreement. Pursuant to the Sales Agreement, a money commission of 3.0 % on the aggregate yucky proceeds raised was paid 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 great as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and can provide the Company with supplemental freedom in its continuous review process to check out and evaluate strategic options.
Approximately Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically centered on the research, development and commercialization of prescribed drugs using OM3 greasy acids delivered both as totally free fatty acids and bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have extensive clinical proof of efficacy as well as safety in lowering triglycerides in individuals with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being created for patients with serious HTG.
Forward Looking Statements – ACST Stock
Statements of that press release that aren’t statements of historical or current truth 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 statements involve known and unknown risks, uncertainties, along with other unknown variables that may cause the particular results of Acasti to be materially different from historical success or from any later results expressed or implied by such forward looking statements. In addition to statements which explicitly describe these types of risks as well as uncertainties, readers are urged to look at statements marked with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or any other similar expressions to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward looking statements, which speak simply as of the day of this press release. Forward-looking assertions in this press release include, but are not limited to, statements or information concerning Acasti’s strategy, succeeding operations as well as its review of strategic options.
The forward-looking statements contained in this press release are expressly qualified in their entirety by this alerting 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 actually available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at giving www.sedar.com and also on the investor section of Acasti’s site at www.acastipharma.com. Most forward looking claims in this press release are made as of the day of this particular press release.
ACST Stock – Acasti doesn’t undertake to redesign any such forward looking statements whether as a result of info that is brand new , future events or even otherwise, except as required by law. The forward looking assertions contained herein are also subject typically to assumptions and risks as well as uncertainties that are actually described from time to time in Acasti’s public securities filings with the Securities and exchange Commission and The Canadian securities commissions, including Acasti’s latest annual report on Form 10 K and quarterly report on Form 10 Q underneath the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is providing an update on the use