---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-023189"
form_type: "8-K"
ticker: "ACHV"
cik: "0000949858"
company_name: "ACHIEVE LIFE SCIENCES, INC."
filed_at: "2024-02-29T23:59:59+00:00"
generated_at: "2026-06-05T07:51:17.052031+00:00"
event_type: "other_material"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Achieve Life Sciences raises up to $124.2M in registered direct offering and private placement

## Summary
- $60M upfront from 13.09M shares at $4.585; warrants could add $64.2M at $4.906 exercise price.
- Preliminary cash, cash equivalents and restricted cash of $15.6M as of Dec 31, 2023.
- Net proceeds to fund cytisinicline clinical development through NDA submission expected 1H 2025.
- Warrants exercisable for 3.5 years or expire 30 days after FDA Day 74 letter acceptance; 4.99% ownership cap.
- Concurrent termination of at-the-market sales agreement with Virtu Americas LLC.

## SEC filing metadata
- accession: 0000950170-24-023189
- form_type: 8-K
- ticker: ACHV
- cik: 0000949858
- company_name: ACHIEVE LIFE SCIENCES, INC.
- filed_at: 2024-02-29T23:59:59+00:00
- event_type: other_material
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 1.02, 2.02, 3.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/949858/000095017024023189/0000950170-24-023189-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/949858/000095017024023189/achv-20240228.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-023189
- JSON: https://secwatch.observer/filing/0000950170-24-023189.json
- Plain text: https://secwatch.observer/filing/0000950170-24-023189.txt

## Key facts
- Material Agreements
  ACHIEVE LIFE SCIENCES, INC. terminated At-the-Market Sales Agreement with Virtu Americas LLC valued at Termination of at-the-market offering program (effective 2024-02-28).
  - Action: termination
  - Agreement: atm program
  - Counterparty: Virtu Americas LLC
  - Value: Termination of at-the-market offering program
  - Effective: 2024-02-28
  source text: Item 1.02 Termination of Material Definitive Agreement As previously disclosed, on December 21, 2021, the Company entered into an At-the-Market Sales Agreement (the “Sales Agreement”) with Virtu Americas LLC (“Virtu”) with respect to an “at-the-market” offering program under which the Company could offer and sell, from time to time at the Company’s sole discretion, shares of Common Stock through Virtu as its sales agent.
  evidence_url: https://www.sec.gov/Archives/edgar/data/949858/000095017024023189/0000950170-24-023189-index.htm
- Material Agreements
  ACHIEVE LIFE SCIENCES, INC. entered into Securities Purchase Agreement with Purchasers valued at up to 13,086,151 shares at $4.585 per share and warrants (effective 2024-02-28).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: Purchasers
  - Value: up to 13,086,151 shares at $4.585 per share and warrants
  - Effective: 2024-02-28
  source text: On February 28, 2024, Achieve Life Sciences, Inc. (the “Company”) entered into a securities purchase agreement (the “Purchase Agreement”) with certain purchasers (the “Purchasers”) for the sale of up to 13,086,151 shares (the “Shares”) of the Company’s common stock, par value $0.001 per share (the “Common Stock”), at a price of $4.585 per Share.
  evidence_url: https://www.sec.gov/Archives/edgar/data/949858/000095017024023189/0000950170-24-023189-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.