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 maybe the “Company”) ACST Stock (NASDAQ: ACST – TSX V: ACST) is giving an update on the use of its “at the market” equity offering program.
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. along with H.C. Wainwright & Co., LLC (collectively, the “Agents”), to put into practice a “at the market” equity offering system under which Acasti might issue as well as market from time to time its everyday 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 last distributions reported on January 27, 2021, Acasti granted 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 ended up being marketed at prevailing market costs averaging US$1.0747 per share. No securities were offered in the facilities of the TSXV or perhaps, to the understanding 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 cash commission of 3.0 % on the aggregate yucky proceeds raised was given to the Agents in connection with their services. As a direct 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 extra capital raised has strengthened Acasti’s balance sheet and can provide the Company with additional freedom in its continuous review process to enjoy and evaluate strategic options.
About Acasti – ACST Stock
Acasti is actually a biopharmaceutical innovator that has historically concentrated 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 substantial clinical evidence of safety and efficacy for lowering triglycerides in people with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being formulated for patients with severe HTG.
Forward Looking Statements – ACST Stock
Statements in this press release that are not statements of historical or current truth constitute “forward-looking information” within 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 statements include known and unknown risks, uncertainties, and other unknown factors that may result in the particular results of Acasti to be materially different from historical outcomes and from any later outcomes expressed or even 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 labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or some other related expressions to be forward-looking and uncertain. People are cautioned not to place undue reliance on these forward-looking statements, which speak just as of the day of this particular press release. Forward-looking claims in this press release include, but aren’t limited to, statements or info concerning Acasti’s strategy, succeeding operations as well as its review of strategic options.
The forward-looking statements contained in this specific press release are expressly qualified in their entirety by this alerting declaration, 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 available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at giving www.sedar.com as well as on the investor aisle of Acasti’s website at www.acastipharma.com. Many forward-looking statements in this press release exist 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 brand new info, future events or even otherwise, except as needed by law. The forward-looking claims contained herein are also subject generally to risks and assumptions and uncertainties that are actually described from time to time in Acasti’s public securities filings with the Securities and exchange Commission and The Canadian 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 giving an update on the usage