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 actually providing an update on the usage

ACST
-1.84%
As necessary 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 actually providing an update on the use of the “at-the market” equity of its providing program.

As earlier 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. Co. and Wainwright, LLC (collectively, the “Agents”), to carry out an “at-the market” equity offering program under which Acasti may issue as well as market from time to time its common 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 end distributions reported on January 27, 2021, Acasti granted an aggregate of 20,159,229 common shares (the “ATM Shares”) over the NASDAQ Stock Market for aggregate gross proceeds to the Company of US$21.7 million. The ATM Shares were offered at prevailing market prices averaging US$1.0747 a share. No securities were marketed throughout the facilities of the TSXV or perhaps, to the expertise 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 7, 2020, as well as the Sales Agreement. Pursuant to the Sales Agreement, a money commission of 3.0 % on the aggregate yucky proceeds raised was given to the Agents in connection with the services of theirs. As a consequence of the recent 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 deliver the Company with supplemental flexibility in its ongoing review process to explore as well as evaluate strategic alternatives.

Approximately Acasti – ACST Stock

Acasti is actually a biopharmaceutical innovator that has historically concentrated on the research, development and commercialization of prescribed drugs using OM3 fatty acids delivered both as free fatty acids as well as bound-to-phospholipid esters, produced from krill oil. OM3 fatty acids have substantial clinical proof of efficacy and safety in lowering triglycerides in people with HTG. CaPre, or hypertriglyceridemia, an OM3 phospholipid therapeutic, was being developed for individuals with serious HTG.

Forward Looking Statements – ACST Stock

Statements in that press release which are not statements of historical or current fact constitute “forward looking information” to 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 can result in the particular results of Acasti to be materially different from historical outcomes and even as a result of any future results expressed or even implied by such forward-looking statements. In addition to statements which explicitly describe these kinds of risks and uncertainties, people are actually urged to consider statements labeled with the terms “believes,” “belief,” “expects,” “intends,” “anticipates,” “potential,” “should,” “may,” “will,” “plans,” “continue”, “targeted” or any other related expressions to be forward-looking and uncertain. Readers 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 that press release include, but are not restricted to, information or statements concerning Acasti’s strategy, future operations and its review of strategic options.

The forward-looking claims found in this specific press release are expressly qualified in the entirety of theirs by this alerting declaration, the “Special Note Regarding Forward-Looking Statements” area contained in Acasti’s latest 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 section of Acasti’s website at www.acastipharma.com. All forward-looking assertions in that press release exist as of the particular date of this press release.

ACST Stock – Acasti does not undertake to update any such forward looking statements whether as a consequence of information that is new , future events or otherwise, except as called for by law. The forward-looking assertions contained herein are also subject typically to assumptions and risks and uncertainties that are actually discussed from time to time in Acasti’s public securities filings with the Securities as well as The Canadian and exchange Commission securities commissions, like Acasti’s latest 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 usage