ACST Stock – (NASDAQ: ACST) is actually giving an update on the usage
As necessary 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 usage of its “at the market” equity providing program.
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 H.C. Wainwright & Co., LLC (collectively, the “Agents”), to carry out a “at the market” equity offering system under which Acasti might issue and promote from time to time its everyday 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 end distributions reported on January twenty seven, 2021, Acasti issued 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 had been offered at prevailing market prices averaging US$1.0747 per share. No securities had been marketed through the facilities of the TSXV or, 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, as well as the Sales Agreement. Pursuant to the Sales Agreement, a money commission of 3.0 % on the aggregate gross proceeds raised was paid to the Agents in connection with the services of theirs. As a direct result of the recent ATM sales, Acasti has a total of 200,119,659 typical shares issued and outstanding as of March 5, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and will provide the Company with additional freedom in its ongoing review process to check out as well as 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 making use of OM3 fatty acids delivered both as free fatty acids and bound-to-phospholipid esters, created from krill oil. OM3 fatty acids have extensive clinical evidence of safety as well as efficacy for lowering triglycerides in individuals with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being formulated for people with serious HTG.
Forward Looking Statements – ACST Stock
Statements of this press release which aren’t statements of current or historical truth 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 assertions include known and unknown risks, uncertainties, along with other unknown variables that may result in the particular results of Acasti to be materially different from historical results and from any future outcomes expressed or even implied by such forward looking statements. In addition to statements which explicitly describe such risks as well as uncertainties, people are urged to look at statements marked with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or other similar expressions to be forward-looking and uncertain. People are actually cautioned not to place undue reliance on these forward-looking statements, which speak only as of the particular date of this particular press release. Forward-looking statements in that press release include, but aren’t confined to, statements or info concerning Acasti’s strategy, future operations as well as the review of its of strategic alternatives.
The forward-looking statements found in this press release are expressly qualified in their entirety by this alerting statement, the “Special Note Regarding Forward Looking Statements” section found in Acasti’s latest annual report on Form 10 K and quarterly report on Form 10 Q, which are actually available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com and also on the investor section of Acasti’s site at www.acastipharma.com. Most forward looking claims in that press release are manufactured as of the day of this particular press release.
ACST Stock – Acasti doesn’t undertake to upgrade any such forward-looking statements whether as a direct result of new information, future events or otherwise, except as required by law. The forward looking assertions contained herein are also subject generally to risks and assumptions and uncertainties that are 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 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 usage