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 the “Company”) ACST Stock (NASDAQ: ACST – TSX-V: ACST) is providing an update on the usage of its “at the market” equity providing plan.
As earlier 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 carry out an “at-the market” equity offering system under which Acasti may well issue as well as market from time to time its common shares 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 issued 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 zillion. The ATM Shares had been offered at prevailing market prices averaging US$1.0747 a share. No securities were offered 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 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 the services of theirs. 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 can supply the Company with additional flexibility in its ongoing review process to check out and evaluate strategic options.
Approximately Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically focused on the research, commercialization and development of prescribed drugs using OM3 greasy 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 as well as efficacy for lowering triglycerides in individuals with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being formulated for clients with severe HTG.
Forward Looking Statements – ACST Stock
Statements of this press release that are not statements of historical or current fact constitute “forward-looking information” within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of U.S. federal securities laws (collectively, “forward looking statements”). Such forward-looking statements involve known and unknown risks, uncertainties, along with other unknown variables that can result in the actual results of Acasti to be materially different from historical results or as a result of any future results expressed or even implied by such forward looking statements. In addition to statements which explicitly describe these kinds of risks and 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 some other similar expressions to be uncertain and forward-looking. People are cautioned not to place undue reliance on these forward looking statements, which speak just as of the date of this press release. Forward-looking claims in that press release include, but aren’t limited to, information or statements about Acasti’s strategy, succeeding operations and the review of its of strategic alternatives.
The forward looking claims contained in this press release are expressly qualified in the entirety of theirs by this cautionary 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 area of Acasti’s website at www.acastipharma.com. All forward looking statements in this press release are made as of the day of this particular press release.
ACST Stock – Acasti doesn’t undertake to upgrade some such forward looking statements whether as a direct result of info that is new , future events or even otherwise, except as called for by law. The forward-looking claims contained herein are also subject typically to risks and assumptions 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, 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 providing an update on the use