Achieve Life Sciences (ACHV) Prices 2.15M Share Common Offering at $7/Sh

Achieve Life Sciences, Inc. (NASDAQ: ACHV) today announced the pricing of an underwritten public offering of 2,150,000 shares of its common stock at a price to the public of $7.00 per share. The aggregate gross proceeds from this offering are expected to be approximately $15 million, before deducting underwriting discounts and commissions and other offering expenses payable by Achieve. Achieve has also granted the underwriters a 30-day option to purchase up to an additional 322,500 shares of common stock in connection with the public offering. All of the securities are being offered by Achieve. The offering is expected to close on or about December 7, 2020, subject to the satisfaction of customary closing conditions.

Lake Street Capital Markets LLC is acting as the sole bookrunning manager in the offering. Maxim Group LLC is serving as the co-manager.

Achieve intends to use the proceeds from the offering to fund its Phase 3 ORCA-2 trial, clinical research and development, as well as for working capital and general corporate purposes.

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