Achieve Life Sciences down 34% after pricing equity offering
Dec. 17, 2019 1:29 PM ET|About: Achieve Life Sciences,... (ACHV)|By: Douglas W. House, SA News Editor
•Achieve Life Sciences (ACHV -34.1%) is down on a robust 90x surge in volume in response to its $12M public offering of Class A & B units.
•Class A units, each consisting of one common share and one five-year warrant exercisable at $0.60 per share, are priced at $0.60.
•Class B units, consisting of one share of Series B preferred stock, convertible into 1,666 common shares and one five-year warrant to purchase 1,666 common shares at $0.60 per share, are priced at $999.60.
•A total of 9,577,504 common shares, 6,256 shares of Series B preferred stock convertible into an aggregate of 10,422,496 common shares and total warrants to purchase 20,000,000 common shares will be issued in the offering.
•Closing date is December 19.
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