EX-5.1 2 achv-ex51_6.htm EX-5.1 achv-ex51_6.htm

 

Exhibit 5.1

November 29, 2018

Achieve Life Sciences, Inc.

1001 W. Broadway, Suite 400

Vancouver, BC V6H 4B1

Ladies and Gentlemen:

At your request, we have examined the Registration Statement on Form S-1 filed by Achieve Life Sciences, Inc. (the “Company”) with the Securities and Exchange Commission (the “Commission”) on November 29, 2018 (the “Registration Statement”), in connection with the registration under the Securities Act of 1933, as amended (the “Securities Act”), of an aggregate of 894,626 shares of the Company’s common stock, $0.001 par value per share (the “Common Stock”), issuable upon exercise of certain outstanding Common Stock purchase warrants issued by the Company in a private placement on October 1, 2018 (the “Warrants”). The Warrants were issued to certain selling stockholders (the “Selling Stockholders”), as set forth in the Registration Statement and the prospectus contained within the Registration Statement (the “Prospectus”).

In connection with our opinion expressed below we have examined originals or copies of the Company’s Amended and Restated Certificate of Incorporation, as amended (the “Certificate”) and the Company’s Bylaws (the “Bylaws”), the Warrants, certain corporate proceedings of the Company’s board of directors (the “Board”) and stockholders relating to the Registration Statement, the Certificate and Bylaws, and such other agreements, documents, certificates and statements of the Company, its transfer agent and public or government officials, as we have deemed advisable, and have examined such questions of law as we have considered necessary. We have assumed the authenticity of all documents submitted to us as originals, the genuineness of all signatures on documents submitted to us, the conformity to originals of all documents submitted to us as copies, and the absence of any undisclosed termination, waiver or amendment to any document reviewed by us. In giving our opinion, we have also relied upon a good standing certificate issued by the Delaware Secretary of State and representations made to us by the Company, including representations that the Company has available a sufficient number of authorized shares of Common Stock that are not currently outstanding or reserved for issuance under other outstanding securities or equity plans of the Company, to enable the Company to issue and deliver all of the shares of Common Stock issuable upon exercise of the Warrants as of the date of this letter.

We render this opinion only with respect to, and express no opinion herein concerning the application or effect of the laws of any jurisdiction other than, the existing laws of the Delaware General Corporation Law.

 

Based upon the foregoing, we are of the opinion that, upon exercise of the Warrants, in the manner and for the consideration stated in the Warrants, the Common Stock to be sold by the Selling Stockholder pursuant to the Registration Statement and the Prospectus will be validly issued, nonassessable and, to our knowledge, fully paid.

 


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We consent to the use of this opinion as an exhibit to the Registration Statement and further consent to all references to us, if any, in the Registration Statement, the Prospectus constituting a part thereof and any amendments thereto. We do not thereby admit that we are within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the Commission thereunder. This opinion is intended solely for use in connection with sale of the Common Stock to be sold by the Selling Stockholder pursuant to the Registration Statement and is not to be relied upon for any other purpose. In providing this letter, we are opining only as to the specific legal issues expressly set forth above, and no opinion shall be inferred as to any other matter or matters. This opinion is rendered on, and speaks only as of, the date of this letter first written above, and does not address any potential change in facts of law that may occur after the date of this opinion letter. We assume no obligation to advise you of any fact, circumstance, event or change in the law or the facts that may hereafter be brought to our attention, whether or not such occurrence would affect or modify any of the opinions expressed herein.

 

 

Very truly yours,

 

 

 

/s/ Fenwick & West LLP

 

 

 

FENWICK & WEST LLP

 

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