Achieve Life Sciences Raises $1M in Stock Sale

TL;DR

ACHV just sold 1M shares for $1M to investors. Cash infusion!

AI Summary

On July 25, 2024, Achieve Life Sciences, Inc. entered into a Material Definitive Agreement, specifically a Securities Purchase Agreement, with certain investors. This agreement resulted in the unregistered sale of 1,000,000 shares of common stock at a purchase price of $1.00 per share, for a total of $1,000,000.

Why It Matters

This financing provides Achieve Life Sciences with additional capital, which could be used for ongoing operations and development of its products.

Risk Assessment

Risk Level: medium — The company is selling equity, which can dilute existing shareholders, and the amount raised is significant relative to its size.

Key Numbers

• $1.0M — Capital Raised (Through unregistered sale of common stock)
• 1,000,000 shares — Shares Sold (Under Securities Purchase Agreement)

Key Players & Entities

• Achieve Life Sciences, Inc. (company) — Registrant
• July 25, 2024 (date) — Date of earliest event reported
• Securities Purchase Agreement (agreement) — Material Definitive Agreement
• 1,000,000 shares (share_count) — Shares sold
• $1.00 per share (price) — Purchase price
• $1,000,000 (dollar_amount) — Total proceeds

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share ACHV The NASDAQ Stock Mar
• $10.0 m — aggregate original principal amount of $10.0 million, with additional term loans of up
• $10.0 million — on, with additional term loans of up to $10.0 million available upon the occurrence of certai
• $16.6 million — having an aggregate principal amount of $16.6 million (the " Prior Convertible Term Loan ").
• $5.0 million — having an aggregate principal amount of $5.0 million in the event that Achieve receives writ
• $5.0 m — having an aggregate principal amount of $5.0 million, subject to the Lender's sole dis
• $7 — rsion ") at a conversion price equal to $7.00, as may be adjusted for stock splits
• $4 — rsion price equal to the greater of (i) $4.854, as may be adjusted for stock split
• $24.00 — al amount of the Convertible Term Loan, $24.00 or, (b) in the case of the outstanding

Filing Documents

• achv-20240725.htm (8-K) — 71KB
• achv-ex10_1.htm (EX-10.1) — 831KB
• achv-ex10_2.htm (EX-10.2) — 199KB
• 0000950170-24-087118.txt ( ) — 1414KB
• achv-20240725.xsd (EX-101.SCH) — 50KB
• achv-20240725_htm.xml (XML) — 6KB

02. Unregistered Sales of Equity Securities

Item 3.02. Unregistered Sales of Equity Securities. The information set forth in Item 1.01 above is incorporated by reference into this Item 3.02.

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits The following exhibit is filed herewith: Exhibit No. Description 10.1 Contingent Convertible Debt Agreement, dated July 25, 2024, between Achieve Life Sciences, Inc., and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company. 10.2 Registration Rights Agreement, dated July 25, 2024, between Achieve Life Sciences, Inc., and Silicon Valley Bank, a division of First-Citizens Bank & Trust Company. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. ACHIEVE LIFE SCIENCES, INC. Date: July 29, 2024 /s/ John Bencich John Bencich Chief Executive Officer (Principal Executive and Financial Officer)

View Full Filing

View this 8-K filing on SEC EDGAR