ACST Stock – (NASDAQ: ACST) is giving an update on the use
As required pursuant to the policies of the TSX Venture Exchange, Acasti Pharma Inc. (“Acasti or maybe the “Company”) ACST Stock (NASDAQ: ACST – TSX V: ACST) is actually giving an update on the usage of its “at-the market” equity providing plan.
As previously disclosed, Acasti entered into an amended and restated ATM sales agreement on June twenty nine, 2020 (the “Sales Agreement”) with B. Riley FBR Inc., Oppenheimer & Co. Inc. along with H.C. Wainwright & Co., LLC (collectively, the “Agents”), to carry out a “at the market” equity offering program under which Acasti may issue and market 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 required pursuant to the policies of the TSX Venture Exchange (“TSXV”), since the final distributions reported 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 huge number of. The ATM Shares ended up being marketed at prevailing market costs averaging US$1.0747 per share. No securities were offered in the facilities of the TSXV or, 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 seven, 2020, and also 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 consequence of the recent ATM sales, Acasti has a total of 200,119,659 common shares issued and superb as of March 5, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and can provide the Company with more flexibility in its continuous review process to enjoy as well as evaluate strategic options.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically focused on the research, commercialization and development of prescription drugs using OM3 fatty acids delivered both as free fatty acids as well as bound-to-phospholipid esters, derived from krill oil. OM3 fatty acids have extensive clinical evidence of safety and efficacy for lowering triglycerides in clients with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being formulated for patients with severe HTG.
Forward Looking Statements – ACST Stock
Statements of this press release which aren’t statements of historical or current truth constitute “forward looking information” to the meaning of Canadian securities laws and “forward-looking statements” to the meaning of U.S. federal securities laws (collectively, “forward-looking statements”). Such forward-looking statements include known and unknown risks, uncertainties, as well as other unknown factors that may cause the actual results of Acasti to be materially different from historical success and as a result of any future results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe such risks and uncertainties, people are actually urged to look at statements marked 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 cautioned not to place undue reliance on these forward-looking statements, which speak just as of the particular date of this particular press release. Forward-looking assertions in this press release include, but are not confined to, info or statements 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 their entirety by this cautionary declaration, the “Special Note Regarding Forward-Looking Statements” area 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 giving www.sedar.com as well as on the investor area of Acasti’s website at www.acastipharma.com. Most forward-looking assertions in that press release are available as of the day of this press release.
ACST Stock – Acasti does not undertake to redesign any such forward looking statements whether as a result of new information, future events or even otherwise, except as needed by law. The forward looking claims contained herein are also subject typically to risks and assumptions and 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