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

by Vandana Singh, Benzinga Editor

May 25, 2021 11:33 AM | 1 min read | Make a Comment

Achieve Life Sciences Inc 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.

Posted In: Biotech News Health Care Offerings General Briefs

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