SC 13G

0001193125-21-369109.txt : 20211229 0001193125-21-369109.hdr.sgml : 20211229 20211229160059 ACCESSION NUMBER: 0001193125-21-369109 CONFORMED SUBMISSION TYPE: SC 13G PUBLIC DOCUMENT COUNT: 3 FILED AS OF DATE: 20211229 DATE AS OF CHANGE: 20211229 GROUP MEMBERS: INNOVATION CREDIT FUND VIII-A, L.P. GROUP MEMBERS: SVB INNOVATION CREDIT FUND VIII, L.P. GROUP MEMBERS: SVB INNOVATION CREDIT PARTNERS VIII, LLC GROUP MEMBERS: SVB INNOVATION CREDIT PARTNERS VIII-A, LLC SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: ACHIEVE LIFE SCIENCES, INC. CENTRAL INDEX KEY: 0000949858 STANDARD INDUSTRIAL CLASSIFICATION: IN VITRO & IN VIVO DIAGNOSTIC SUBSTANCES [2835] IRS NUMBER: 954343413 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G SEC ACT: 1934 Act SEC FILE NUMBER: 005-45969 FILM NUMBER: 211528814 BUSINESS ADDRESS: STREET 1: 22722 29TH DR. SE STREET 2: SUITE 100 CITY: SEATTLE STATE: WA ZIP: 98021 BUSINESS PHONE: 425-686-1500 MAIL ADDRESS: STREET 1: 22722 29TH DR. SE STREET 2: SUITE 100 CITY: SEATTLE STATE: WA ZIP: 98021 FORMER COMPANY: FORMER CONFORMED NAME: ONCOGENEX PHARMACEUTICALS, INC. DATE OF NAME CHANGE: 20080821 FORMER COMPANY: FORMER CONFORMED NAME: SONUS PHARMACEUTICALS INC DATE OF NAME CHANGE: 19950825 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: SVB FINANCIAL GROUP CENTRAL INDEX KEY: 0000719739 STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022] IRS NUMBER: 911962278 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G BUSINESS ADDRESS: STREET 1: 3003 TASMAN DR CITY: SANTA CLARA STATE: CA ZIP: 95054 BUSINESS PHONE: 4086547400 MAIL ADDRESS: STREET 1: 3003 TASMAN DRIVE CITY: SANTA CLARA STATE: CA ZIP: 95054 FORMER COMPANY: FORMER CONFORMED NAME: SILICON VALLEY BANCSHARES DATE OF NAME CHANGE: 19920703 SC 13G 1 d267405dsc13g.htm SC 13G SC 13G

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. )*

Achieve Life Sciences, Inc.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

004468500

(CUSIP Number)

December 22, 2021

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

☐ Rule 13d-1(b)

☒ Rule 13d-1(c)

☐ Rule 13d-1(d)

*	The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 004468500


1.	Names of Reporting Persons. SVB Financial Group
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☐
3.	SEC Use Only
4.	Citizenship or Place of Organization Delaware
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power: 802,997
		6.	Shared Voting Power: 802,996⁽¹⁾
		7.	Sole Dispositive Power: 802,997
		8.	Shared Dispositive Power: 802,996⁽¹⁾
9.	Aggregate Amount Beneficially Owned by Each Reporting Person 1,605,993⁽²⁾
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ☐
11.	Percent of Class Represented by Amount in Row (9) 14.5%⁽³⁾
12.	Type of Reporting Person (See Instructions) HC-CO-IA

(1)

Consists of 401,498 shares of Common Stock issuable to SVB Innovation Credit Fund VIII, L.P. and 401,498 shares of Common Stock issuable to Innovation Credit Fund VIII-A, L.P. upon the full exercise of contingent convertible debt. The exercise of such conversion is subject to (i) the maximum aggregate number of Common Stock issuable to the Reporting Persons or other conversion right holders (if any) not exceeding 1,889,763 shares of Common Stock, as such number may be adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like occurring after December 22, 2021 (the “Primary Conversion Limit”) and (ii) the maximum aggregate number of shares of the Issuer owned or held by SVB Financial Group beneficially and/or of record not exceeding 19.99% of the Issuer’s then-total issued and outstanding shares of Common Stock (the “Secondary Conversion Limit”).

(2)

Consists of 802,997 shares of Common Stock issuable to SVB Financial Group, 401,498 shares of Common Stock issuable to SVB Innovation Credit Fund VIII, L.P., and 401,498 shares of Common Stock issuable to Innovation Credit Fund VIII-A, L.P. upon the full exercise of contingent convertible debt, the exercise of which is subject to the Primary Conversion Limit and the Secondary Conversion Limit.

(3)

Based on (i) 9,453,542 shares of Common Stock outstanding at November 9, 2021 as reported in the Issuer’s Form 10-Q filed with the Securities and Exchange Commission (“SEC”) on November 9, 2021, (ii) 802,997 shares of Common Stock issuable to SVB Financial Group, (iii) 401,498 shares of Common Stock issuable to SVB Innovation Credit Fund VIII, L.P., and (iv) 401,498 shares of Common Stock issuable to Innovation Credit Fund VIII-A, L.P. in each case upon the full exercise of contingent convertible debt.

CUSIP No. 004468500


1.	Names of Reporting Persons. SVB Innovation Credit Partners VIII, LLC
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☐
3.	SEC Use Only
4.	Citizenship or Place of Organization Delaware
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power: 0
		6.	Shared Voting Power: 401,498⁽¹⁾
		7.	Sole Dispositive Power: 0
		8.	Shared Dispositive Power: 401,498⁽¹⁾
9.	Aggregate Amount Beneficially Owned by Each Reporting Person 401,498⁽¹⁾
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ☐
11.	Percent of Class Represented by Amount in Row (9) 4.1%⁽²⁾
12.	Type of Reporting Person (See Instructions) OO

(1)	Consists of 401,498 shares of Common Stock issuable to SVB Innovation Credit Fund VIII, L.P. upon the full exercise of contingent convertible debt, the exercise of which is subject to the Primary Conversion Limit and the Secondary Conversion Limit.

(2)	Based on (i) 9,453,542 shares of Common Stock outstanding at November 9, 2021 as reported in the Issuer’s Form 10-Q filed with the SEC on November 9, 2021 and (ii) 401,498 shares of Common Stock issuable to SVB Innovation Credit Fund VIII, L.P.

CUSIP No. 004468500


1.	Names of Reporting Persons. SVB Innovation Credit Fund VIII, L.P.
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☐
3.	SEC Use Only
4.	Citizenship or Place of Organization Delaware
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power: 0
		6.	Shared Voting Power: 401,498⁽¹⁾
		7.	Sole Dispositive Power: 0
		8.	Shared Dispositive Power: 401,498⁽¹⁾
9.	Aggregate Amount Beneficially Owned by Each Reporting Person 401,498⁽¹⁾
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ☐
11.	Percent of Class Represented by Amount in Row (9) 4.1%⁽²⁾
12.	Type of Reporting Person (See Instructions) PN

(1)	Consists of 401,498 shares of Common Stock issuable to SVB Innovation Credit Fund VIII, L.P. upon the full exercise of contingent convertible debt, the exercise of which is subject to the Primary Conversion Limit and the Secondary Conversion Limit.

(2)	Based on (i) 9,453,542 shares of Common Stock outstanding at November 9, 2021 as reported in the Issuer’s Form 10-Q filed with the SEC on November 9, 2021 and (ii) 401,498 shares of Common Stock issuable to SVB Innovation Credit Fund VIII, L.P.

CUSIP No. 004468500


1.	Names of Reporting Persons. SVB Innovation Credit Partners VIII-A, LLC
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☐
3.	SEC Use Only
4.	Citizenship or Place of Organization Delaware
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power: 0
		6.	Shared Voting Power: 401,498⁽¹⁾
		7.	Sole Dispositive Power: 0
		8.	Shared Dispositive Power: 401,498⁽¹⁾
9.	Aggregate Amount Beneficially Owned by Each Reporting Person 401,498⁽¹⁾
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ☐
11.	Percent of Class Represented by Amount in Row (9) 4.1%⁽²⁾
12.	Type of Reporting Person (See Instructions) OO

(1)	Consists of 401,498 shares of Common Stock issuable to Innovation Credit Fund VIII-A, L.P. upon the full exercise of contingent convertible debt, the exercise of which is subject to the Primary Conversion Limit and the Secondary Conversion Limit.

(2)

Based on (i) 9,453,542 shares of Common Stock outstanding at November 9, 2021 as reported in the Issuer’s Form 10-Q filed with the SEC on November 9, 2021 and (ii) 401,498 shares of Common Stock issuable to Innovation Credit Fund VIII-A, L.P. in each case upon the full exercise of contingent convertible debt.

CUSIP No. 004468500


1.	Names of Reporting Persons. Innovation Credit Fund VIII-A, L.P.
2.	Check the Appropriate Box if a Member of a Group (See Instructions) (a) ☐ (b) ☐
3.	SEC Use Only
4.	Citizenship or Place of Organization Delaware
Number of Shares Beneficially Owned by Each Reporting Person With:		5.	Sole Voting Power: 0
		6.	Shared Voting Power: 401,498⁽¹⁾
		7.	Sole Dispositive Power: 0
		8.	Shared Dispositive Power: 401,498⁽¹⁾
9.	Aggregate Amount Beneficially Owned by Each Reporting Person 401,498⁽¹⁾
10.	Check if the Aggregate Amount in Row (9) Excludes Certain Shares (See Instructions) ☐
11.	Percent of Class Represented by Amount in Row (9) 4.1%⁽²⁾
12.	Type of Reporting Person (See Instructions) PN

(1)	Consists of 401,498 shares of Common Stock issuable to Innovation Credit Fund VIII-A, L.P. upon the full exercise of contingent convertible debt, the exercise of which is subject to the Primary Conversion Limit and the Secondary Conversion Limit.

(2)

Item 1.


(a)		Name of Issuer: Achieve Life Sciences, Inc.

(b)		Address of Issuer’s Principal Executive Offices 1040 West Georgia Street, Suite 1030 Vancouver, British Columbia, Canada V6E 4H1

Item 2.


(a)		Name of Person Filing SVB Financial Group SVB Innovation Credit Partners VIII, LLC SVB Innovation Credit Fund VIII, L.P. SVB Innovation Credit Partners VIII-A, LLC Innovation Credit Fund VIII-A, L.P.

(b)		Address of Principal Business Office or, if none, Residence SVB Financial Group 3003 Tasman Drive Santa Clara, California 95054-1191 SVB Innovation Credit Partners VIII, LLC 2770 Sand Hill Road Menlo Park, CA 94025 SVB Innovation Credit Fund VIII, L.P. 2770 Sand Hill Road Menlo Park, CA 94025 SVB Innovation Credit Partners VIII-A, LLC 2770 Sand Hill Road Menlo Park, CA 94025 Innovation Credit Fund VIII-A, L.P. 2770 Sand Hill Road Menlo Park, CA 94025

(c)		Citizenship Each of the Reporting Persons is a citizen of Delaware.

(d)		Title of Class of Securities Common Stock

(e)		CUSIP Number 004468500

Item 3.

If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:

Not Applicable.

Item 4.

Ownership.


(a)	Amount beneficially owned: See the responses to Item 9 on the attached cover pages.

(b)	Percent of class: See the responses to Item 11 on the attached cover pages.

(c)	Number of shares as to which the person has:

	(i)	Sole power to vote or to direct the vote See the responses to Item 5 on the attached cover pages.

	(ii)	Shared power to vote or to direct the vote See the responses to Item 6 on the attached cover pages.

	(iii)	Sole power to dispose or to direct the disposition of See the responses to Item 7 on the attached cover pages.

	(iv)	Shared power to dispose or to direct the disposition of See the responses to Item 8 on the attached cover pages.

Item 5.

Ownership of Five Percent or Less of a Class.

Not Applicable.

Item 6.

Ownership of More than Five Percent on Behalf of Another Person.

Not Applicable.

Item 7.

Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

See Exhibit 99.2.

Item 8.

Identification and Classification of Members of the Group.

Not Applicable.

Item 9.

Notice of Dissolution of Group.

Not Applicable.

Item 10.

Certification.

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under §240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: December 29, 2021


SVB Financial Group

By		/s/ Karen Hon
Name:		Karen Hon
Title:		Chief Accounting Officer

SVB Innovation Credit Fund VIII, L.P.

By: SVB Innovation Credit Partners VIII, LLC, its general partner

By		/s/ Andrew Olson
Name:		Andrew Olson
Title:		Chief Financial Officer

SVB Innovation Credit Partners VIII, LLC

By		/s/ Andrew Olson
Name:		Andrew Olson
Title:		Chief Financial Officer

[Signatures continue on next page]


Innovation Credit Fund VIII-A, L.P.

By: SVB Innovation Credit Partners VIII-A, LLC, its general partner

By		/s/ Andrew Olson
Name:		Andrew Olson
Title:		Chief Financial Officer

SVB Innovation Credit Partners VIII-A, LLC

By		/s/ Andrew Olson
Name:		Andrew Olson
Title:		Chief Financial Officer

INDEX TO EXHIBITS


99.1		Joint Filing Agreement

99.2		Item 7 Information

EX-99.1 2 d267405dex991.htm EX-99.1 EX-99.1

EXHIBIT 99.1

JOINT FILING AGREEMENT

In accordance with Rule 13d-1(k)(1) promulgated under the Securities Exchange Act of 1934, the undersigned agree to the joint filing of a Statement on Schedule 13G (including any and all amendments thereto) with respect to the Common Stock, par value $0.001 per share, of Achieve Life Sciences, Inc. and further agree to the filing of this agreement as an Exhibit thereto. In addition, each party to this Agreement expressly authorizes each other party to this Agreement to file on its behalf any and all amendments to such Statement on Schedule 13G.

Date: December 29, 2021


SVB Financial Group

By		/s/ Karen Hon
Name:		Karen Hon
Title:		Chief Accounting Officer

SVB Innovation Credit Fund VIII, L.P.

By: SVB Innovation Credit Partners VIII, LLC, its general partner

By		/s/ Andrew Olson
Name:		Andrew Olson
Title:		Chief Financial Officer

SVB Innovation Credit Partners VIII, LLC

By		/s/ Andrew Olson
Name:		Andrew Olson
Title:		Chief Financial Officer

[Signatures continue on next page]


Innovation Credit Fund VIII-A, L.P.

By: SVB Innovation Credit Partners VIII-A, LLC, its general partner

By		/s/ Andrew Olson
Name:		Andrew Olson
Title:		Chief Financial Officer

SVB Innovation Credit Partners VIII-A, LLC

By		/s/ Andrew Olson
Name:		Andrew Olson
Title:		Chief Financial Officer

EX-99.2 3 d267405dex992.htm EX-99.2 EX-99.2

EXHIBIT 99.2

ITEM 7 INFORMATION

The securities being reported on herein by SVB Financial Group, as a parent holding company, are issuable to SVB Financial Group, SVB Innovation Credit Fund VIII, L.P., and Innovation Credit Fund VIII-A, L.P. upon the exercise of contingent convertible debt held by Silicon Valley Bank, SVB Innovation Credit Fund VIII, L.P., and Innovation Credit Fund VIII-A, L.P., respectively, and may be deemed to be beneficially owned by SVB Financial Group. SVB Financial Group is (1) the manager of SVB Innovation Credit Partners VIII, LLC, a Delaware limited liability company, which is general partner of SVB Innovation Credit Fund VIII, L.P., (2) the manager of SVB Innovation Credit Partners VIII-A, LLC, a Delaware limited liability company, which is general partner of Innovation Credit Fund VIII-A, L.P. and (3) the investment adviser to SVB Innovation Credit Fund VIII, L.P. and Innovation Credit Fund VIII-A, L.P. Silicon Valley Bank is a wholly-owned subsidiary of SVB Financial Group.