ACST Stock – (NASDAQ: ACST) is providing 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 giving an update on the usage of the “at the market” equity of its offering plan.
As previously disclosed, Acasti entered into an amended as well as restated ATM sales agreement on June twenty nine, 2020 (the “Sales Agreement”) with B. Riley FBR Inc., Oppenheimer & Co. Inc. and also H.C. Wainwright & Co., LLC (collectively, the “Agents”), to implement a “at the market” equity offering system under which Acasti may well issue as well as sell from time to time the common shares of its 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 last distributions found 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 yucky proceeds to the Company of US$21.7 million. The ATM Shares had been offered at prevailing market costs averaging US$1.0747 a share. No securities were marketed through the facilities of the TSXV or maybe, to the understanding 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 money commission of 3.0 % on the aggregate gross proceeds raised was paid 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 great as of March five, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and will supply the Company with more freedom in its ongoing review process to enjoy as well as evaluate strategic options.
About 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 and bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have substantial clinical evidence of efficacy as well as safety in lowering triglycerides in people with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being formulated for patients with serious HTG.
Forward Looking Statements – ACST Stock
Statements of that press release that aren’t statements of current or historical truth 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 statements include known and unknown risks, uncertainties, along with other unknown components that may result in the particular results of Acasti to be materially different from historical outcomes or as a result of any future results expressed or perhaps implied by such forward looking statements. In addition to statements which explicitly describe such risks and uncertainties, readers are actually urged to consider 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 simply as of the date of this press release. Forward-looking claims in this press release include, but are not restricted to, information or statements concerning Acasti’s strategy, future operations and its review of strategic options.
The forward-looking statements found in this press release are expressly qualified in the entirety of theirs by this alerting declaration, the “Special Note Regarding Forward Looking Statements” area found in Acasti’s latest annual report on Form 10 K and quarterly report on Form 10 Q, which are available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at giving www.sedar.com and also on the investor section of Acasti’s site at www.acastipharma.com. Many forward looking statements in this press release are manufactured as of the day of this particular press release.
ACST Stock – Acasti does not undertake to update some such forward looking statements whether as a result of information that is new , future events or otherwise, except as required by law. The forward looking assertions contained herein are also subject typically to assumptions and risks 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 actually giving an update on the use