---
schema_version: "secwatch.filing_event.v1"
accession: "0001564590-22-038025"
form_type: "8-K"
ticker: "ACHV"
cik: "0000949858"
company_name: "ACHIEVE LIFE SCIENCES, INC."
filed_at: "2022-11-18T23:59:59+00:00"
generated_at: "2026-06-21T16:20:35.911168+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Achieve Life Sciences raises $18.9M in private placement of units at $4.625/unit

## Summary
- Gross proceeds of ~$18.9M from sale of 4,093,141 units at $4.625/unit; each unit consists of 2 common shares and a warrant to buy one share.
- Pricing represents an 8.6% premium to prior day's closing price ($2.3125 per common share).
- Net proceeds ~$17.9M after expenses; funds operations into late 2023; used for clinical R&D and working capital.
- Warrants exercisable at $4.50/share for 7 years, beginning 6 months after close; callable under certain conditions.
- Placement includes new life sciences fund, management participation, and existing investors; Lake Street Capital Markets as exclusive placement agent.

## SEC filing metadata
- accession: 0001564590-22-038025
- form_type: 8-K
- ticker: ACHV
- cik: 0000949858
- company_name: ACHIEVE LIFE SCIENCES, INC.
- filed_at: 2022-11-18T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 3.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/949858/000156459022038025/0001564590-22-038025-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/949858/000156459022038025/achv-8k_20221114.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001564590-22-038025
- JSON: https://secwatch.observer/filing/0001564590-22-038025.json
- Plain text: https://secwatch.observer/filing/0001564590-22-038025.txt

## Key facts
- Material Agreements
  ACHIEVE LIFE SCIENCES, INC. entered into Subscription Agreements with certain accredited investors valued at approximately $18.9 million (effective 2022-11-14).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain accredited investors
  - Value: approximately $18.9 million
  - Effective: 2022-11-14
  source text: On November 14, 2022, Achieve Life Sciences, Inc., a Delaware corporation (the “ Company ”), entered into subscription agreements (the “ Subscription Agreements ”) with certain accredited investors (the “ Purchasers ”) pursuant to which the Company agreed to issue and sell to the Purchasers in a private placement 4,093,141 units (each, a “ Unit ”), each consisting of (i) two shares of the Company’s common stock, par value $0.001 per share (the “ Common Stock ”), and (ii) a warrant to purchase one share of Common Stock (the “ Warrants ”), at an offering price of $4.625 per Unit, for aggregate gross proceeds of approximately $18.9 million (the “ Offering ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/949858/000156459022038025/0001564590-22-038025-index.htm
- Material Agreements
  ACHIEVE LIFE SCIENCES, INC. entered into Placement Agent Agreement with Lake Street Capital Markets, LLC.
  - Action: entry
  - Agreement: underwriting
  - Counterparty: Lake Street Capital Markets, LLC
  source text: Lake Street Capital Markets, LLC (the “ Placement Agent ”), acted as the exclusive placement agent for the Offering and, pursuant to the engagement agreement between the Company and the Placement Agent (the “ Placement Agent Agreement ”), will receive a cash commission equal to 5% of the gross proceeds from the sale of the Units.
  evidence_url: https://www.sec.gov/Archives/edgar/data/949858/000156459022038025/0001564590-22-038025-index.htm
- Material Agreements
  ACHIEVE LIFE SCIENCES, INC. entered into Registration Rights Agreement with the Purchasers (effective 2022-11-18).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: the Purchasers
  - Effective: 2022-11-18
  source text: Pursuant to the Subscription Agreements, on November 18, 2022, the Company entered into a registration rights agreement (the “ Registration Rights Agreement ”) with the Purchasers, under which the Company is required to file a registration statement within 60 days following the final closing date of the Offering (the “ Registration Statement ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/949858/000156459022038025/0001564590-22-038025-index.htm

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