<SEC-DOCUMENT>0001104659-22-120805.txt : 20221121
<SEC-HEADER>0001104659-22-120805.hdr.sgml : 20221121
<ACCEPTANCE-DATETIME>20221121165554
ACCESSION NUMBER:		0001104659-22-120805
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20221118
FILED AS OF DATE:		20221121
DATE AS OF CHANGE:		20221121

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DIALECTIC CAPITAL MANAGEMENT, LP
		CENTRAL INDEX KEY:			0001411512
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-80623
		FILM NUMBER:		221406485

	BUSINESS ADDRESS:	
		STREET 1:		119 ROWAYTON AVENUE
		STREET 2:		2ND FLOOR
		CITY:			NORWALK
		STATE:			CT
		ZIP:			06853
		BUSINESS PHONE:		212-230-3220

	MAIL ADDRESS:	
		STREET 1:		119 ROWAYTON AVENUE
		STREET 2:		2ND FLOOR
		CITY:			NORWALK
		STATE:			CT
		ZIP:			06853

	FORMER NAME:	
		FORMER CONFORMED NAME:	DIALECTIC CAPITAL MANAGEMENT, LLC
		DATE OF NAME CHANGE:	20070904

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			FICHTHORN JOHN
		CENTRAL INDEX KEY:			0001411509

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-80623
		FILM NUMBER:		221406483

	MAIL ADDRESS:	
		STREET 1:		C/O DIALECTIC CAPITAL MANAGEMENT, LLC
		STREET 2:		17 STATE STREET, SUITE 3930
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10004

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Dialectic Life Sciences SPV LLC
		CENTRAL INDEX KEY:			0001955360
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-80623
		FILM NUMBER:		221406481

	BUSINESS ADDRESS:	
		STREET 1:		C/O DIALECTIC LS MANAGER LLC
		STREET 2:		119 ROWAYTON AVENUE, 2ND FLOOR
		CITY:			NORWALK
		STATE:			CT
		ZIP:			06853
		BUSINESS PHONE:		(212) 230-3220

	MAIL ADDRESS:	
		STREET 1:		C/O DIALECTIC LS MANAGER LLC
		STREET 2:		119 ROWAYTON AVENUE, 2ND FLOOR
		CITY:			NORWALK
		STATE:			CT
		ZIP:			06853

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Dialectic Partners, LLC
		CENTRAL INDEX KEY:			0001895109
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-80623
		FILM NUMBER:		221406484

	BUSINESS ADDRESS:	
		STREET 1:		2ND FLOOR 119 ROWAYTON AVE
		CITY:			NORWALK
		STATE:			CT
		ZIP:			06853
		BUSINESS PHONE:		2122303220

	MAIL ADDRESS:	
		STREET 1:		2ND FLOOR 119 ROWAYTON AVE
		CITY:			NORWALK
		STATE:			CT
		ZIP:			06853

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Dialectic LS Manager LLC
		CENTRAL INDEX KEY:			0001955359
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	033-80623
		FILM NUMBER:		221406482

	BUSINESS ADDRESS:	
		STREET 1:		119 ROWAYTON AVENUE
		STREET 2:		2ND FLOOR
		CITY:			NORWALK
		STATE:			CT
		ZIP:			06853
		BUSINESS PHONE:		(917) 603-9615

	MAIL ADDRESS:	
		STREET 1:		119 ROWAYTON AVENUE
		STREET 2:		2ND FLOOR
		CITY:			NORWALK
		STATE:			CT
		ZIP:			06853

ISSUER:		

	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

	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
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>tm2230938-1_3.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2022-11-18</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

    <issuer>
        <issuerCik>0000949858</issuerCik>
        <issuerName>ACHIEVE LIFE SCIENCES, INC.</issuerName>
        <issuerTradingSymbol>ACHV</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001411512</rptOwnerCik>
            <rptOwnerName>DIALECTIC CAPITAL MANAGEMENT, LP</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>119 ROWAYTON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>2ND FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NORWALK</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06853</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001895109</rptOwnerCik>
            <rptOwnerName>Dialectic Partners, LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>2ND FLOOR 119 ROWAYTON AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>NORWALK</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06853</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001411509</rptOwnerCik>
            <rptOwnerName>FICHTHORN JOHN</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DIALECTIC CAPITAL MANAGEMENT, LP</rptOwnerStreet1>
            <rptOwnerStreet2>119 ROWAYTON AVENUE, 2ND FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NORWALK</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06853</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001955359</rptOwnerCik>
            <rptOwnerName>Dialectic LS Manager LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>119 ROWAYTON AVENUE</rptOwnerStreet1>
            <rptOwnerStreet2>2ND FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NORWALK</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06853</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001955360</rptOwnerCik>
            <rptOwnerName>Dialectic Life Sciences SPV LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O DIALECTIC LS MANAGER LLC</rptOwnerStreet1>
            <rptOwnerStreet2>119 ROWAYTON AVENUE, 2ND FLOOR</rptOwnerStreet2>
            <rptOwnerCity>NORWALK</rptOwnerCity>
            <rptOwnerState>CT</rptOwnerState>
            <rptOwnerZipCode>06853</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3494000</value>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By: Dialectic Life Sciences SPV LLC</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock, par value $0.001 per share</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>55000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By: John Fichthorn</value>
                    <footnoteId id="F2"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Common Stock Warrants (right to buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>4.50</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2023-05-18</value>
                <footnoteId id="F4"/>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <value>2029-11-18</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1747000</value>
                    <footnoteId id="F3"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By: Dialectic Life Sciences SPV LLC</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">These securities are held directly by Dialectic Life Sciences SPV LLC (the &quot;SPV&quot;). The SPV is a private investment vehicle. Dialectic Capital Management LP (the &quot;Adviser&quot;) is the investment adviser for the SPV. Dialectic Partners, LLC (the &quot;Adviser GP&quot;) is the general partner of the Adviser. Dialectic LS Manager LLC (the &quot;SPV MM&quot;) is the managing member of the SPV. John Fichthorn is the controlling person of the Adviser GP and the SPV MM. Each Reporting Person disclaims beneficial ownership of all securities reported herein, except to the extent of their pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Securities and Exchange Act of 1934 or for any other purpose.</footnote>
        <footnote id="F2">These securities are held directly by John Fichthorn. Each Reporting Person disclaims beneficial ownership of all securities reported herein, except to the extent of their pecuniary interest therein, if any, and this report shall not be deemed an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 of the Securities and Exchange Act of 1934 or for any other purpose.</footnote>
        <footnote id="F3">The reported securities are included within 1,747,000 ACHV Units purchased by the SPV on November 18, 2022. Each Unit consists of two shares of Common Stock and one warrant to purchase one share of Common Stock.</footnote>
        <footnote id="F4">The Issuer shall not effect any exercise of these warrants, and the SPV shall not have the right to exercise these warrants, to the extent that after giving effect to the issuance of Common Stock after exercise, the SPV (together with the SPV's affiliates, and any other persons acting as a group together with the SPV or any of the SPV's affiliates) would beneficially own in excess of the Beneficial Ownership Limitation.</footnote>
        <footnote id="F5">The &quot;Beneficial Ownership Limitation&quot; shall be 19.99% of the number of shares of Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of these warrants. The SPV, upon notice to the Issuer, may decrease, and subsequently increase or decrease, the Beneficial Ownership Limitation, provided that the Beneficial Ownership Limitation in no event exceeds 19.99% of the number of shares of the Common Stock outstanding immediately after giving effect to the issuance of shares of Common Stock upon exercise of these warrants. Any increase in the Beneficial Ownership Limitation will not be effective until the 61st day after notice is delivered to the Issuer.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ John Fichthorn, for himself and as controlling person of the Adviser GP (for itself and on behalf of the Adviser) and the SPV MM (for itself and on behalf of the SPV)</signatureName>
        <signatureDate>2022-11-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</DOCUMENT>
</SEC-DOCUMENT>
