ACST Stock – (NASDAQ: ACST) is actually 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 use of its “at-the market” equity providing program.
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. and also H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to implement an “at-the market” equity offering program under which Acasti might issue as well as promote from time to time its common shares 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 final distributions reported on January twenty seven, 2021, Acasti granted 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 million. The ATM Shares ended up being sold at prevailing market rates averaging US$1.0747 a share. No securities were offered through the facilities of the TSXV or maybe, 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, and also the Sales Agreement. Pursuant to the Sales Agreement, a cash commission of 3.0 % on the aggregate gross proceeds raised was paid to the Agents in connection with their services. As a direct result of the recent ATM sales, Acasti has a total of 200,119,659 common shares issued and superb as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and can deliver the Company with extra flexibility in its ongoing review process to check out and evaluate strategic options.
About Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically concentrated on the research, development and commercialization 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 substantial clinical proof of safety and efficacy in 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 that are not statements of current or historical fact constitute “forward-looking information” within 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 claims include known and unknown risks, uncertainties, and other unknown components that can result in the actual results of Acasti to be materially different from historical success and as a result of any later outcomes expressed or even implied by such forward looking statements. In addition to statements which explicitly describe such risks and uncertainties, people are urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or any other similar expressions to be uncertain and forward-looking. People are actually 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 statements in that press release include, but aren’t restricted to, statements or info about Acasti’s strategy, future operations and its review of strategic options.
The forward looking statements contained in this specific press release are expressly qualified in their entirety by this alerting declaration, the “Special Note Regarding Forward Looking Statements” section in Acasti’s newest 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 and on the investor section of Acasti’s website at www.acastipharma.com. Most forward looking statements in this press release are available as of the day of this press release.
ACST Stock – Acasti doesn’t undertake to redesign some such forward looking statements whether as a direct result of brand new info, future events or even otherwise, except as required by law. The forward-looking assertions contained herein are also subject generally to risks and assumptions and 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 underneath the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is giving an update on the usage