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 perhaps the “Company”) ACST Stock (NASDAQ: ACST – TSX-V: ACST) is providing an update on the use of its “at the market” equity offering program.
As previously 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. Wainwright & Co., LLC (collectively, the “Agents”), to implement an “at-the market” equity offering program under which Acasti may issue as well as sell from time to time its common shares having an aggregate offering price of up to seventy five dolars 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 found on January twenty seven, 2021, Acasti given an aggregate of 20,159,229 common shares (the “ATM Shares”) over the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 million. The ATM Shares ended up being offered at prevailing market costs averaging US$1.0747 a share. No securities were sold in the facilities of the TSXV or maybe, 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 7, 2020, as well as the Sales Agreement. Pursuant to the Sales Agreement, a cash commission of 3.0 % on the aggregate yucky proceeds raised was paid to the Agents in connection with their services. As a consequence of the latest ATM sales, Acasti has a total of 200,119,659 common shares issued and outstanding as of March 5, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and will supply the Company with additional flexibility in its ongoing review process to explore and evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically concentrated on the research, commercialization and development of prescription drugs using OM3 fatty acids delivered both as totally free fatty acids and bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have extensive clinical evidence of efficacy and safety for lowering triglycerides in people with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being developed for clients with severe HTG.
Forward Looking Statements – ACST Stock
Statements in this press release that are not 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, as well as other unknown factors that could result in the particular results of Acasti to be materially different from historical results or from any later outcomes expressed or even implied by such forward looking statements. In addition to statements which explicitly describe these types of risks as well as uncertainties, readers are urged to look at statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or other related expressions to be uncertain and forward-looking. Readers are actually cautioned not to place undue reliance on these forward-looking statements, which speak simply as of the particular date of this particular press release. Forward-looking claims in that press release include, but aren’t restricted to, info or statements about Acasti’s strategy, succeeding operations and the review of its of strategic options.
The forward looking claims found in this specific press release are expressly qualified in the entirety of theirs 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 actually readily available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com and also on the investor area of Acasti’s site at www.acastipharma.com. Many forward-looking assertions in that press release are made as of the particular date of this particular press release.
ACST Stock – Acasti doesn’t undertake to upgrade any such forward-looking statements whether as a consequence of brand new information, future events or perhaps otherwise, except as required by law. The forward-looking assertions contained herein are also subject generally to assumptions and risks as well as uncertainties that are actually discussed from time to time in Acasti’s public securities filings with the Securities and The Canadian and exchange Commission securities commissions, like Acasti’s latest annual report on Form 10-K and quarterly report on Form 10-Q under the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is providing an update on the use