ACST Stock – (NASDAQ: ACST) is actually providing an update on the usage
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 actually giving an update on the usage of its “at-the market” equity offering plan.
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. along with H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to carry out a “at the market” equity offering program under which Acasti may issue as well as promote from time to time its common shares 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 reported on January 27, 2021, Acasti issued 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 marketed at prevailing market costs averaging US$1.0747 per share. No securities were offered in the facilities of the TSXV or perhaps, 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 given to the Agents in connection with the services of theirs. As a consequence of the recent ATM sales, Acasti has a total of 200,119,659 common shares issued and great as of March 5, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and can supply the Company with additional freedom in its continuous review process to explore as well as evaluate strategic options.
Approximately Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically focused on the research, development and commercialization of prescription drugs making use of OM3 fatty acids delivered both as free fatty acids as well as bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have extensive clinical proof of safety as well as efficacy for lowering triglycerides in people with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being developed for individuals with serious HTG.
Forward Looking Statements – ACST Stock
Statements in that press release that are not statements of current or historical fact constitute “forward-looking information” to the meaning of Canadian securities laws as well as “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 factors that might result in the actual results of Acasti to be materially different from historical outcomes and from any later results expressed or even implied by such forward looking statements. In addition to statements which explicitly describe these kinds of risks as well as uncertainties, people are urged to consider statements marked with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or other related expressions to be forward-looking and uncertain. People are actually cautioned not to place undue reliance on these forward-looking statements, which speak just as of the day of this press release. Forward-looking statements in that press release include, but aren’t restricted to, info or statements concerning Acasti’s strategy, succeeding operations as well as the review of its of strategic options.
The forward looking claims contained in this specific press release are expressly qualified in their entirety by this cautionary statement, the “Special Note Regarding Forward-Looking Statements” area contained 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 www.sedar.com and also on the investor aisle of Acasti’s website at www.acastipharma.com. Most forward-looking claims in this press release are available as of the particular date of this press release.
ACST Stock – Acasti doesn’t undertake to redesign some such forward-looking statements whether as a consequence of brand new information, future events or even otherwise, except as required by law. The forward looking statements contained herein are also subject typically to risks and assumptions as well as uncertainties that are discussed 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 latest annual report on Form 10 K and quarterly report on Form 10 Q under the caption “Risk Factors“.
ACST Stock – (NASDAQ: ACST) is actually giving an update on the use