Home » Markets » ACST Stock – (NASDAQ: ACST) is providing an update on the usage

ACST Stock – (NASDAQ: ACST) is providing an update on the usage

ACST Stock – (NASDAQ: ACST) is giving an update on the usage

ACST
-1.84%
As necessary pursuant to the policies of the TSX Venture Exchange, Acasti Pharma Inc. (“Acasti or the “Company”) ACST Stock (NASDAQ: ACST – TSX-V: ACST) is providing an update on the usage of its “at the market” equity offering plan.

As previously 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. and H.C. Co. and Wainwright, LLC (collectively, the “Agents”), to put into practice a “at the market” equity offering program under which Acasti might issue and market from time to time its common shares 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 required pursuant to the policies of the TSX Venture Exchange (“TSXV”), since the end distributions found 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 huge number of. The ATM Shares ended up being marketed at prevailing market prices averaging US$1.0747 a share. No securities had been marketed 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 seven, 2020, and the Sales Agreement. Pursuant to the Sales Agreement, a cash commission of 3.0 % on the aggregate gross proceeds raised was given 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 great as of March five, 2021.

The extra capital raised has strengthened Acasti’s balance sheet and will deliver the Company with more freedom in its continuous review process to check out as well as evaluate strategic alternatives.

About Acasti – ACST Stock

Acasti is actually a biopharmaceutical innovator that has historically focused on the research, commercialization and development of prescription drugs making use of OM3 greasy acids delivered both as free fatty acids as well as bound-to-phospholipid esters, created from krill oil. OM3 fatty acids have extensive clinical evidence of efficacy and safety in lowering triglycerides in clients with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being created for clients with severe HTG.

Forward Looking Statements – ACST Stock

Statements of this press release which aren’t statements of historical or current truth constitute “forward-looking information” to the meaning of Canadian securities laws and “forward-looking statements” within the meaning of U.S. federal securities laws (collectively, “forward looking statements”). Such forward-looking assertions involve known and unknown risks, uncertainties, along with other unknown elements that could cause the actual results of Acasti to be materially different from historical outcomes or from any later outcomes expressed or even implied by such forward-looking statements. In addition to statements which explicitly describe these types of risks as well as uncertainties, readers are urged to give some thought to statements marked 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. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak simply as of the particular date of this particular press release. Forward-looking statements in that press release include, but are not limited to, information or statements concerning Acasti’s strategy, future 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 declaration, the “Special Note Regarding Forward Looking Statements” area in Acasti’s newest 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 www.sedar.com as well as on the investor area of Acasti’s site 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 does not undertake to update any such forward-looking statements whether as a result of information that is new , future events or even otherwise, except as required by law. The forward looking statements contained herein are also subject generally to assumptions and risks as well as 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 newest 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