secwatch.observer — SEC 8-K summary
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Issuer:     ACHIEVE LIFE SCIENCES, INC. (ACHV)
CIK:        0000949858
Form:       8-K
Filed at:   2023-05-17T23:59:59+00:00
Accession:  0000950170-23-022609
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Achieve Life Sciences enters $16.56M contingent convertible loan facility, refinancing prior debt
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- Term loan of $16.56M from Silicon Valley Bank/FCB and affiliates to refinance existing $15M contingent convertible debt.
- Conversion price set at $9.34/share; mandatory conversion if stock closes at ≥$24 for 30 consecutive trading days.
- Maturity Dec 22, 2024, accelerated to Aug 1, 2024 if NDA filing not accepted by July 31, 2024.
- Issuer may call loan at 125% of principal before June 22, 2023, or 150% after; Lenders waived call price on prior loan.
- Loan secured by substantially all assets except intellectual property; Lenders restricted from short sales.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/949858/000095017023022609/0000950170-23-022609-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/949858/000095017023022609/achv-20230515.htm
  HTML page:      https://secwatch.observer/filing/0000950170-23-022609

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer