ACST Stock – (NASDAQ: ACST) is actually providing an update on the usage
As necessary 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 actually giving an update on the usage of the “at-the market” equity of its offering program.
As earlier 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 also H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to carry out an “at-the market” equity offering system under which Acasti may well issue and sell from time to time the common shares of its having an aggregate offering price of up to $75 million throughout 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 given 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 ended up being marketed at prevailing market prices averaging US$1.0747 a share. No securities were sold through the facilities of the TSXV or perhaps, 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 also 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 their services. As a direct result of the recent ATM sales, Acasti has a total of 200,119,659 typical shares issued and outstanding as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and will supply the Company with extra freedom in its ongoing review process to enjoy and evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically concentrated on the research, development and commercialization of prescription medications using OM3 fatty acids delivered both as totally free fatty acids and 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 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 which aren’t statements of current or historical 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 assertions involve known and unknown risks, uncertainties, and other unknown variables that may result in the particular results of Acasti to be materially different from historical success and as a result of any future outcomes expressed or perhaps implied by such forward looking statements. In addition to statements which explicitly describe these types of risks as well as uncertainties, people are urged to give some thought to statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or 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 press release. Forward-looking claims in that press release include, but are not limited to, statements or info about Acasti’s strategy, succeeding operations and its review of strategic alternatives.
The forward-looking claims contained in this press release are expressly qualified in their entirety 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 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. All forward-looking assertions in that press release are manufactured as of the day of this press release.
ACST Stock – Acasti doesn’t undertake to redesign any such forward-looking statements whether as a consequence of brand new information, future events or perhaps otherwise, except as needed by law. The forward looking assertions contained herein are also subject typically to risks and assumptions as well as uncertainties that are described from time to time in Acasti’s public securities filings with the Securities as well as exchange Commission and The Canadian 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 providing an update on the use