ACST Stock – (NASDAQ: ACST) is providing 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 providing an update on the use of its “at the market” equity providing program.
As previously disclosed, Acasti entered into an amended as well as 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 carry out a “at the market” equity offering program under which Acasti may well issue as well as market from time to time the everyday 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 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”) over the NASDAQ Stock Market for aggregate yucky proceeds to the Company of US$21.7 zillion. The ATM Shares were marketed at prevailing market rates averaging US$1.0747 a share. No securities were offered through the facilities of the TSXV or, 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 also 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 the services of theirs. As a direct result of the latest ATM sales, Acasti has a total of 200,119,659 common shares issued and outstanding as of March five, 2021.
The additional capital raised has strengthened Acasti’s balance sheet and can provide the Company with more flexibility in its ongoing review process to explore 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 drugs using OM3 fatty 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 safety and efficacy in lowering triglycerides in patients with hypertriglyceridemia, or HTG. CaPre, an OM3 phospholipid therapeutic, was being created for patients with severe HTG.
Forward Looking Statements – ACST Stock
Statements of that press release that aren’t statements of historical or current fact constitute “forward-looking information” to 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 factors that might result in the particular outcomes of Acasti to be materially different from historical success and even from any later results expressed or even implied by such forward-looking statements. In addition to statements which explicitly describe these types of risks as well as uncertainties, people are actually urged to look at statements marked with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or any other similar expressions to be uncertain and forward-looking. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak simply as of the day of this particular press release. Forward-looking assertions in that press release include, but aren’t restricted to, statements or information about Acasti’s strategy, succeeding operations and the review of its of strategic options.
The forward-looking assertions contained in this specific 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 available on EDGAR at www.sec.gov/edgar.shtml, on SEDAR at www.sedar.com and also on the investor aisle of Acasti’s site at www.acastipharma.com. Many forward looking statements in that press release are manufactured as of the day of this particular press release.
ACST Stock – Acasti does not undertake to redesign some such forward-looking statements whether as a result of information which is new, future events or even otherwise, except as needed by law. The forward-looking statements contained herein are also subject typically to risks and assumptions and 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 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 providing an update on the use