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 actually giving an update on the use of its “at-the market” equity providing program.
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. Co. and Wainwright, LLC (collectively, the “Agents”), to implement a “at the market” equity offering program under which Acasti may issue and promote from time to time its common shares 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 end distributions reported on January twenty seven, 2021, Acasti granted an aggregate of 20,159,229 typical shares (the “ATM Shares”) over the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 zillion. The ATM Shares ended up being marketed at prevailing market rates averaging US$1.0747 per share. No securities had been sold in the facilities of the TSXV or maybe, to the expertise 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, 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 the services of theirs. As a result of the latest ATM sales, Acasti has a total of 200,119,659 typical shares issued and outstanding as of March 5, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and often will provide the Company with supplemental flexibility in its ongoing review process to explore as well as evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically focused on the research, development and commercialization of prescription medications making use of OM3 fatty acids delivered both as totally free fatty acids as well as bound-to-phospholipid esters, created from krill oil. OM3 fatty acids have substantial clinical proof of safety and efficacy for lowering triglycerides in clients with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being created for people with serious HTG.
Forward Looking Statements – ACST Stock
Statements of this press release that are not statements of current or historical fact 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 factors that could cause the actual results of Acasti to be materially different from historical outcomes and as a result of any later results expressed or 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 labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or any 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 day of this press release. Forward-looking claims in that press release include, but are not limited to, statements or info about Acasti’s strategy, succeeding operations and its review of strategic alternatives.
The forward looking claims contained 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 readily available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com and also on the investor section of Acasti’s website at www.acastipharma.com. Most forward looking assertions in this press release are available as of the particular date of this press release.
ACST Stock – Acasti does not undertake to update any such forward-looking statements whether as a consequence of brand new info, 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 described 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 newest 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 usage