ACST Stock – (NASDAQ: ACST) is actually giving 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 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 system under which Acasti may well issue as well as market from time to time the everyday shares of its 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 necessary pursuant to the policies of the TSX Venture Exchange (“TSXV”), since the end distributions reported on January 27, 2021, Acasti given an aggregate of 20,159,229 typical 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 sold at prevailing market prices averaging US$1.0747 a share. No securities had been offered in the facilities of the TSXV or perhaps, to the knowledge 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 seven, 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 consequence of the recent ATM sales, Acasti has a total of 200,119,659 typical shares issued and superb as of March 5, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and will provide the Company with supplemental freedom in its ongoing review process to explore and evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically centered on the research, commercialization and development of prescribed drugs using OM3 greasy acids delivered both as free fatty acids as well as bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have extensive clinical evidence of efficacy and safety for lowering triglycerides in clients with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being formulated for people with severe HTG.
Forward Looking Statements – ACST Stock
Statements of this 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 assertions include known and unknown risks, uncertainties, along with other unknown variables that may result in the particular results of Acasti to be materially different from historical success and even as a result of any future results expressed or even implied by such forward looking statements. In addition to statements which explicitly describe such risks as well as uncertainties, people are urged to give some thought to 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. 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 statements in this press release include, but aren’t restricted to, statements or information about Acasti’s strategy, succeeding operations as well as its review of strategic options.
The forward looking statements found in this specific press release are expressly qualified in the entirety of theirs by this alerting declaration, the “Special Note Regarding Forward Looking Statements” section contained in Acasti’s latest annual report on Form 10 K and quarterly report on Form 10-Q, which are 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. All forward-looking statements in this press release are available as of the date of this press release.
ACST Stock – Acasti doesn’t undertake to upgrade any such forward-looking statements whether as a direct result of information which is new, future events or even otherwise, except as called for by law. The forward-looking statements 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 as well as 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 actually providing an update on the usage