secwatch.observer — SEC 8-K summary
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Issuer:     ACHIEVE LIFE SCIENCES, INC. (ACHV)
CIK:        0000949858
Form:       8-K
Filed at:   2021-12-22T23:59:59+00:00
Accession:  0001564590-21-060919
Event type: debt
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 2.03, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/949858/000156459021060919/0001564590-21-060919-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/949858/000156459021060919/achv-8k_20211222.htm
  HTML page:      https://secwatch.observer/filing/0001564590-21-060919

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