ACST Stock – (NASDAQ: ACST) is providing an update on the use
As required 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 providing an update on the usage of its “at the market” equity offering program.
As earlier disclosed, Acasti entered into an amended as well as 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 implement an “at-the market” equity offering program under which Acasti may well issue as well as sell from time to time its everyday 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 necessary pursuant to the policies of the TSX Venture Exchange (“TSXV”), since the final distributions found on January twenty seven, 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 million. The ATM Shares ended up being sold at prevailing market rates averaging US$1.0747 a share. No securities had been sold in the facilities of the TSXV or maybe, to the knowledge 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 also 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 common shares issued and great as of March five, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and often will supply the Company with more freedom in its ongoing review process to explore as well as evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically concentrated on the research, commercialization and development of prescription drugs making use of 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 as well as safety for lowering triglycerides in people with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being developed for individuals with severe HTG.
Forward Looking Statements – ACST Stock
Statements in this press release that aren’t statements of historical or current truth constitute “forward looking information” to the meaning of Canadian securities laws as well as “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 cause the particular outcomes of Acasti to be materially different from historical success 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 as well as uncertainties, people 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. People 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 statements in that press release include, but aren’t restricted to, information or statements about Acasti’s strategy, succeeding operations as well as its review of strategic alternatives.
The forward looking statements found in this press release are expressly qualified in the entirety of theirs by this alerting statement, the “Special Note Regarding Forward Looking Statements” section in Acasti’s latest annual report on Form 10-K and quarterly report on Form 10-Q, which are actually 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 site at www.acastipharma.com. Most forward-looking claims in that press release are manufactured as of the day of this particular press release.
ACST Stock – Acasti does not undertake to update 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 assumptions and risks as well as uncertainties that are discussed 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 actually giving an update on the use