ACST Stock – (NASDAQ: ACST) is actually giving an update on the use
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 giving 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 twenty nine, 2020 (the “Sales Agreement”) with B. Riley FBR Inc., Oppenheimer & Co. Inc. along with H.C. Wainwright & Co., LLC (collectively, the “Agents”), to put into practice an “at-the market” equity offering system under which Acasti may issue as well as sell from time to time the common shares of its 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 final distributions reported on January 27, 2021, Acasti issued an aggregate of 20,159,229 common shares (the “ATM Shares”) with the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 million. The ATM Shares were offered at prevailing market costs averaging US$1.0747 per share. No securities had been marketed in the facilities of the TSXV or maybe, to the knowledge 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, and 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 common 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 continuous review process to check out and evaluate strategic options.
Approximately 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 greasy acids delivered both as totally free fatty acids as well as bound-to-phospholipid esters, created from krill oil. OM3 fatty acids have extensive clinical proof of efficacy and safety in lowering triglycerides in individuals with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being developed for people with severe HTG.
Forward Looking Statements – ACST Stock
Statements in that 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 as a result of any later outcomes expressed or perhaps implied by such forward-looking statements. In addition to statements which explicitly describe these types of risks and uncertainties, readers are urged to give some thought to 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. People are actually cautioned not to place undue reliance on these forward looking statements, which speak simply as of the date of this particular press release. Forward-looking claims in that press release include, but aren’t restricted to, statements or info about Acasti’s strategy, succeeding operations as well as its review of strategic alternatives.
The forward-looking claims found in this press release are expressly qualified in the entirety of theirs by this alerting statement, the “Special Note Regarding Forward Looking Statements” section contained in Acasti’s newest 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 giving www.sedar.com and also on the investor aisle of Acasti’s website at www.acastipharma.com. Most forward-looking assertions in that press release are produced as of the day of this particular press release.
ACST Stock – Acasti doesn’t undertake to upgrade some such forward looking statements whether as a consequence of information which is new, future events or perhaps otherwise, except as needed by law. The forward looking assertions 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 and The Canadian and exchange Commission 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 providing an update on the use