ACST Stock – (NASDAQ: ACST) is 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 actually providing an update on the usage of the “at-the market” equity of its providing program.
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. Co. and Wainwright, LLC (collectively, the “Agents”), to carry out an “at-the market” equity offering system under which Acasti may well issue and promote from time to time the common shares of its having an aggregate offering price of up to seventy five dolars 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 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 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 offered throughout the facilities of the TSXV or perhaps, to the expertise 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, 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 latest ATM sales, Acasti has a total of 200,119,659 typical shares issued and outstanding as of March 5, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and will supply the Company with extra freedom in its ongoing review process to enjoy and evaluate strategic options.
About Acasti – ACST Stock
Acasti is a biopharmaceutical innovator that has historically centered on the research, commercialization and development 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 efficacy and safety in lowering triglycerides in individuals with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being developed for patients with severe HTG.
Forward Looking Statements – ACST Stock
Statements in this press release that aren’t statements of historical or current truth constitute “forward looking information” to the meaning of Canadian securities laws as well as “forward-looking statements” to the meaning of U.S. federal securities laws (collectively, “forward looking statements”). Such forward-looking claims involve known and unknown risks, uncertainties, and other unknown elements that can result in the actual results of Acasti to be materially different from historical results and from any future results expressed or even implied by such forward-looking statements. In addition to statements which explicitly describe these kinds of risks as well as uncertainties, people are urged to look at statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or other similar expressions to be uncertain and forward-looking. People are actually cautioned not to place undue reliance on these forward-looking statements, which speak just as of the day of this press release. Forward-looking assertions in this press release include, but are not limited to, information or statements about Acasti’s strategy, succeeding operations and its review of strategic alternatives.
The forward-looking statements contained in this press release are expressly qualified in their entirety by this cautionary statement, 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 readily 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. Most forward looking statements in that press release are manufactured as of the particular date of this particular press release.
ACST Stock – Acasti does not undertake to upgrade some such forward looking statements whether as a consequence of information that is new , future events or otherwise, except as required by law. The forward looking statements contained herein are also subject generally to risks and assumptions as well as uncertainties that are actually 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 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 use