ACST Stock – (NASDAQ: ACST) is actually providing an update on the use
As required 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 usage of its “at-the market” equity providing 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. and also H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to carry out an “at-the market” equity offering program under which Acasti might issue and promote from time to time the common shares of its 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 last distributions found on January twenty seven, 2021, Acasti issued an aggregate of 20,159,229 typical shares (the “ATM Shares”) with the NASDAQ Stock Market for aggregate gross proceeds to the Company of US$21.7 million. The ATM Shares were offered at prevailing market prices averaging US$1.0747 per share. No securities were marketed in the facilities of the TSXV or maybe, to the expertise 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 seven, 2020, and the Sales Agreement. Pursuant to the Sales Agreement, a cash 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 latest ATM sales, Acasti has a total of 200,119,659 common shares issued and outstanding as of March five, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and can provide the Company with more flexibility in its ongoing review process to enjoy and evaluate strategic alternatives.
Approximately Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically concentrated on the research, commercialization and development of prescribed drugs using OM3 greasy acids delivered both as totally free fatty acids as well as bound-to-phospholipid esters, created from krill oil. OM3 fatty acids have substantial clinical evidence of efficacy as well as safety for lowering triglycerides in individuals with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being developed for clients with serious HTG.
Forward Looking Statements – ACST Stock
Statements in that press release that aren’t statements of current or historical fact 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 claims include known and unknown risks, uncertainties, along with other unknown elements that could result in the particular results of Acasti to be materially different from historical outcomes and as a result of any future results expressed or even implied by such forward-looking statements. In addition to statements which explicitly describe these kinds of risks as well as uncertainties, readers are actually urged to consider statements marked with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or some other related expressions to be forward-looking and uncertain. Readers are 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 claims in this press release include, but aren’t restricted to, info or statements concerning Acasti’s strategy, future operations and its review of strategic alternatives.
The forward looking assertions contained in this specific 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 readily available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com as well as on the investor area of Acasti’s site at www.acastipharma.com. All forward-looking assertions in this press release exist as of the particular date of this particular press release.
ACST Stock – Acasti does not undertake to redesign some such forward-looking statements whether as a direct result of info which is brand new, future events or otherwise, except as needed by law. The forward looking statements contained herein are also subject generally to assumptions and risks as well as uncertainties that are discussed from time to time in Acasti’s public securities filings with the Securities as well as exchange Commission and The Canadian 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 giving an update on the usage