Evofem Biosciences Announces Proposed Public Offering
SAN DIEGO, May 17, 2021 /PRNewswire/ -- Evofem Biosciences, Inc. (NASDAQ: EVFM) today announced that it intends to offer and sell in an underwritten public offering, subject to market and other conditions, shares of its common stock (or pre-funded warrants to purchase common stock in lieu of common stock) in an underwritten public offering. Each share of common stock or pre-funded warrant will be sold with a common warrant to purchase one share of common stock. The Company expects to grant the underwriter a 30-day option to purchase additional shares of its common stock and/or warrants to purchase shares of its common stock at the public offering price, less the underwriting discounts and commissions. All of the shares of common stock, pre-funded warrants and common warrants to be sold in the offering are to be offered by Evofem.
The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.
H.C. Wainwright is acting as sole book-running manager for the proposed offering.
Evofem intends to use the net proceeds from the offering for the continuation of full commercialization activities related to Phexxi® (lactic acid, citric acid and potassium bitartrate), including continued direct-to-consumer advertising activities across television, streaming and digital channels; the continuation of its ongoing EVOGUARD Phase 3 clinical trial evaluating EVO100 for the prevention of chlamydia and gonorrhea in women and related development activities; and general corporate purposes and other capital expenditures.
The securities described above are being offered by Evofem pursuant to a shelf registration statement on Form S-3 (File No. 333-253881) that was previously filed with and subsequently declared effective by the Securities and Exchange Commission (SEC) on March 11, 2021. The securities may be offered only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the offering will be filed with the SEC and will be available on the SEC's website at www.sec.gov. Electronic copies of the preliminary prospectus supplement and the accompanying prospectus relating to the offering, when available, may also be obtained by contacting H.C. Wainwright & Co., LLC, at 430 Park Ave., New York, New York 10022, by telephone at (212) 856-5711, or by email at firstname.lastname@example.org.
This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
About Evofem Biosciences
Phexxi® is a registered trademark of Evofem Biosciences, Inc.
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SOURCE Evofem Biosciences, Inc.
Company Codes: NASDAQ-NMS:EVFM