secwatch.observer — SEC 8-K summary
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Issuer:     ACHIEVE LIFE SCIENCES, INC. (ACHV)
CIK:        0000949858
Form:       8-K
Filed at:   2022-11-18T23:59:59+00:00
Accession:  0001564590-22-038025
Event type: other_material
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/949858/000156459022038025/0001564590-22-038025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/949858/000156459022038025/achv-8k_20221114.htm
  HTML page:      https://secwatch.observer/filing/0001564590-22-038025

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