Achieve Life Sciences enters $15M contingent convertible debt agreement with SVB

ACHIEVE LIFE SCIENCES, INC.

$15M initial term loan from SVB and SVB Innovation Credit Fund VIII; up to $10M additional subject to approval.
Convertible at $9.34/share; mandatory conversion if stock closes at $24+ for 30 consecutive trading days.
Interest: floating (prime−1%, floor 2.25%) cash + 7% PIK compounded monthly.
Maturity Dec 22, 2023, extendable to Dec 22, 2024 upon mutual agreement; prepayment penalties apply.

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