ACST Stock – (NASDAQ: ACST) is actually giving an update on the usage
As required 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 providing an update on the use of the “at the market” equity of its providing 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. and H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to carry out an “at-the market” equity offering program under which Acasti may issue as well as sell 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 necessary pursuant to the policies of the TSX Venture Exchange (“TSXV”), since the end distributions found on January 27, 2021, Acasti given an aggregate of 20,159,229 typical shares (the “ATM Shares”) with the NASDAQ Stock Market for aggregate gross proceeds to the Company of US$21.7 zillion. The ATM Shares were offered at prevailing market rates averaging US$1.0747 per share. No securities were offered throughout the facilities of the TSXV or perhaps, 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 7, 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 their services. As a result of the recent ATM sales, Acasti has a total of 200,119,659 typical shares issued and great as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and can deliver the Company with extra flexibility in its continuous review process to explore as well as evaluate strategic options.
Approximately Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically focused on the research, commercialization and development of prescription medications using OM3 greasy acids delivered both as totally free fatty acids as well as bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have extensive clinical evidence of efficacy as well as safety for lowering triglycerides in clients with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being developed for people with severe HTG.
Forward Looking Statements – ACST Stock
Statements in this press release which aren’t statements of current or historical fact constitute “forward-looking information” to the meaning of Canadian securities laws as well as “forward-looking statements” within 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 elements that could result in the particular outcomes of Acasti to be materially different from historical outcomes and even from any later results expressed or implied by such forward-looking statements. In addition to statements which explicitly describe these types of risks as well as uncertainties, readers are actually urged to look at statements labeled 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 only as of the date of this particular press release. Forward-looking claims in that press release include, but are not limited to, statements or info about 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 alerting statement, the “Special Note Regarding Forward Looking Statements” area 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 giving www.sedar.com and also on the investor area of Acasti’s site at www.acastipharma.com. Many forward looking claims in this press release are made as of the date of this particular press release.
ACST Stock – Acasti doesn’t undertake to upgrade any such forward-looking statements whether as a consequence of information that is new , future events or perhaps otherwise, except as required by law. The forward looking assertions contained herein are also subject typically to assumptions and risks as well as uncertainties that are discussed from time to time in Acasti’s public securities filings with the Securities and The Canadian and exchange Commission securities commissions, including Acasti’s latest 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