ACST Stock – (NASDAQ: ACST) is giving an update on the use
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 the “Company”) ACST Stock (NASDAQ: ACST – TSX V: ACST) is giving an update on the usage of the “at-the market” equity of its providing program.
As previously 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. Co. and Wainwright, LLC (collectively, the “Agents”), to put into practice a “at the market” equity offering program under which Acasti might issue and promote from time to time the everyday 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 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 were marketed at prevailing market costs averaging US$1.0747 a share. No securities were marketed throughout the facilities of the TSXV or perhaps, 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 the services of theirs. As a result of the recent 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 deliver the Company with supplemental freedom in its ongoing review process to check out and evaluate strategic alternatives.
Approximately Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically concentrated on the research, development and commercialization of prescribed 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 substantial clinical evidence of safety as well as efficacy for lowering triglycerides in individuals with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being created for individuals with serious HTG.
Forward Looking Statements – ACST Stock
Statements of that press release which aren’t statements of historical or current truth constitute “forward-looking information” within 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 components that could result in the particular outcomes of Acasti to be materially different from historical results and from any later outcomes expressed or implied by such forward-looking statements. In addition to statements which explicitly describe these kinds of risks and uncertainties, readers 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 other related expressions to be uncertain and forward-looking. People 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 are not confined to, statements or info about Acasti’s strategy, succeeding operations as well as its review of strategic options.
The forward-looking claims contained in this specific press release are expressly qualified in their entirety 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 readily available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com as well as on the investor section of Acasti’s site at www.acastipharma.com. Most forward looking claims in this press release are produced as of the day of this press release.
ACST Stock – Acasti doesn’t undertake to redesign any such forward-looking statements whether as a direct result of brand new information, future events or perhaps otherwise, except as needed by law. The forward-looking assertions contained herein are also subject generally to risks and assumptions as well as uncertainties that are actually described from time to time in Acasti’s public securities filings with the Securities as well as The Canadian and exchange Commission securities commissions, like 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 actually providing an update on the use