Achieve Life Sciences Stock Plunges After Raising $20M Via Equity at 19% Discount - Achieve Life Sciences

Achieve Life Sciences Inc (NASDAQ: ACHV) has priced its underwritten public offering of 2.9 million at $7 per share, representing a discount of 19% from the last close price of $8.61.
Underwriters have a 30-day option to purchase up to an additional 428 thousand shares.
The offering is expected to close by May 27.
The gross proceeds of approximately $20 million will fund ongoing cytisinicline development, other clinical R&D, working capital, and general corporate purposes.
Price Action: ACHV shares are down 11.7% at $7.63 during the market session on the last check Tuesday.

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