ACST Stock – (NASDAQ: ACST) is giving an update on the usage
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 actually providing an update on the use of its “at the market” equity offering plan.
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. along with 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 the everyday shares of its having an aggregate offering price of up to $75 million through 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 last 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 gross proceeds to the Company of US$21.7 million. The ATM Shares were marketed at prevailing market prices averaging US$1.0747 per share. No securities were sold in the facilities of the TSXV or perhaps, to the understanding 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, and also the Sales Agreement. Pursuant to the Sales Agreement, a money commission of 3.0 % on the aggregate yucky proceeds raised was given to the Agents in connection with their services. As a consequence of the latest ATM sales, Acasti has a total of 200,119,659 typical shares issued and superb as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and will provide the Company with supplemental flexibility in its continuous review process to enjoy and evaluate strategic options.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically concentrated on the research, development and commercialization of prescription medications 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 and efficacy in lowering triglycerides in patients with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being developed for patients with serious HTG.
Forward Looking Statements – ACST Stock
Statements of this press release which aren’t statements of historical or current truth 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 claims include known and unknown risks, uncertainties, and other unknown components that can result in the particular results of Acasti to be materially different from historical results and even as a result of any later results expressed or even implied by such forward looking statements. In addition to statements which explicitly describe such risks as well as uncertainties, readers are urged to consider 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 cautioned not to place undue reliance on these forward-looking statements, which speak simply as of the day of this press release. Forward-looking claims in that press release include, but are not limited to, statements or info concerning Acasti’s strategy, future operations and the review of its of strategic options.
The forward-looking assertions found in this press release are expressly qualified in their entirety by this cautionary 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 giving www.sedar.com and on the investor section of Acasti’s site at www.acastipharma.com. Most forward-looking statements in this press release are available as of the date of this press release.
ACST Stock – Acasti doesn’t undertake to update some such forward-looking statements whether as a direct result of info that is new , 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 actually discussed from time to time in Acasti’s public securities filings with the Securities and exchange Commission and The Canadian securities commissions, like Acasti’s newest annual report on Form 10 K and quarterly report on Form 10-Q underneath the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is providing an update on the use