ACST Stock – (NASDAQ: ACST) is providing an update on the usage
ACST Stock – (NASDAQ: ACST) is giving an update on the usage
As necessary pursuant to the policies of the TSX Venture Exchange, Acasti Pharma Inc. (“Acasti or perhaps the “Company”) ACST Stock (NASDAQ: ACST – TSX-V: ACST) is actually providing an update on the usage of the “at-the market” equity of its offering plan.
As previously 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. and also H.C. Wainwright & Co., LLC (collectively, the “Agents”), to put into practice a “at the market” equity offering system under which Acasti may well issue as well as sell 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 required pursuant to the policies of the TSX Venture Exchange (“TSXV”), since the last distributions reported on January twenty seven, 2021, Acasti issued an aggregate of 20,159,229 common shares (the “ATM Shares”) with the NASDAQ Stock Market for aggregate gross 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 marketed through the facilities of the TSXV or perhaps, 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 seven, 2020, as well as the Sales Agreement. Pursuant to the Sales Agreement, a cash commission of 3.0 % on the aggregate gross proceeds raised was paid to the Agents in connection with their services. As a consequence of the recent ATM sales, Acasti has a total of 200,119,659 typical shares issued and great as of March 5, 2021.
The extra capital raised has strengthened Acasti’s balance sheet and will supply the Company with more freedom in its ongoing review process to check out as well as evaluate strategic alternatives.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically centered on the research, development and commercialization of prescribed drugs using OM3 greasy acids delivered both as totally free fatty acids and bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have extensive clinical proof of efficacy as well as safety for lowering triglycerides in patients with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being created for clients with severe HTG.
Forward Looking Statements – ACST Stock
Statements in that press release which are not statements of current or historical truth constitute “forward-looking information” to 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 include known and unknown risks, uncertainties, and other unknown elements that could cause the particular results of Acasti to be materially different from historical results or as a result of any future results expressed or perhaps implied by such forward-looking statements. In addition to statements which explicitly describe these kinds of risks and uncertainties, readers 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. 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 restricted to, info or statements concerning Acasti’s strategy, succeeding operations as well as its review of strategic options.
The forward-looking claims contained in this press release are expressly qualified in the entirety of theirs by this alerting declaration, 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 also on the investor aisle of Acasti’s website at www.acastipharma.com. All forward-looking assertions in this press release exist as of the date of this particular press release.
ACST Stock – Acasti does not undertake to upgrade any such forward looking statements whether as a direct result of information that is brand new , future events or perhaps otherwise, except as required by law. The forward looking statements contained herein are also subject generally to assumptions and risks and uncertainties that are actually discussed from time to time in Acasti’s public securities filings with the Securities as well as exchange Commission and The Canadian securities commissions, like 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