Evofem Biosciences Announces P – GuruFocus.com

SAN DIEGO, May 19, 2022 /PRNewswire/ — Evofem Biosciences, Inc. (Nasdaq: EVFM) (Evofem) today announced its intention to offer and sell common stock (or prefunded warrants to purchase common stock in lieu of common stock to certain investors) and common stock purchase warrants pursuant to a subscribed public offering. The proposed offer is subject to market and other conditions, and there can be no assurance as to whether or not the offer will be completed, or as to the actual size or terms of the offer. All Common Shares, Prefunded Warrants and Common Warrants for sale under the Offer must be offered by Evofem.

Evofem intends to use the net proceeds of the offering for further commercialization activities related to its commercial product, Phexxi® (lactic acid, citric acid and potassium bitartrate), the continuation of its Phase 3 “EVOGUARD” clinical trial, which is evaluating Phexxi for two potential new indications, the prevention of chlamydia and gonorrhea in women, and the activities associated development expenses, and other general corporate purposes and other capital expenditures.

Piper Sandler & Co. is acting as sole bookrunner for the proposed offering.

The securities described above are offered by Evofem pursuant to a shelf registration statement on Form S-3 (File No. 333-258321) which was previously filed with the Securities and Exchange Commission (SEC) on August 5, 2021. Securities may only be offered by means of a prospectus, including a prospectus supplement, forming part of the effective registration statement. A preliminary prospectus supplement and accompanying prospectus relating to the proposed 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 accompanying prospectus relating to the proposed offering, when available, may also be obtained by contacting Piper Sandler & Co., 800 Mail Nicollet, J12S03, Minneapolis, Minnesota 55402, Attention: Prospectus Department, or by phone at (800) 747-3924, or by email at [email protected].

This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offer, and there will be no sale of such securities in any state or other jurisdiction in which such offer , solicitation or sale would be unlawful. prior to registration or qualification under the securities laws of any such state or other jurisdiction.

About Evofem Biosciences

Evofem Biosciences, Inc. (Nasdaq: EVFM) develops and markets innovative products to address the unmet sexual and reproductive health needs of women, including hormone-free, female-controlled contraception and protection against chlamydia and gonorrhea. Evofem’s first FDA-approved product, Phexxi® (lactic acid, citric acid and potassium bitartrate), is a prescription vaginal contraceptive gel without hormones. It comes in a box of 12 pre-filled applicators and is applied 0-60 minutes before each sexual intercourse. The first data is expected in the second half of 2022 from phase 3 of registration EVOGUARD trial evaluating Phexxi for the prevention of chlamydia and gonorrhea in women, two potential new indications.

Forward-looking statements

This press release contains “forward-looking statements” within the meaning of the safe harbor for forward-looking statements contemplated by Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, including , without being limited to statements relating to the proposed offer of securities by Evofem, such as statements relating to the completion of the proposed offer, the exercise of the warrants to be issued in connection with the offer, intended use of the product, potential terms of the offer, and timing of Phase 3 enrollment EVOGUARD test. A variety of factors could cause actual results to differ materially from those discussed or implied by the forward-looking statements, including satisfaction of customary closing conditions relating to the proposed offering, future cash exercise of warrants , market and other conditions, and you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Each of these forward-looking statements involves risks and uncertainties. Important factors that could cause actual results to differ materially from those discussed or implied in the forward-looking statements, or that could adversely affect the value of the assets and businesses of Evofem Biosciences, are disclosed in the documents filed by the Company with the SEC, including its annual report on Form 10-K for the year ended December 31, 2021filed with the SEC on March 10, 2022 and its quarterly report on Form 10-Q for the quarter ended March 31, 2022filed with the SEC on May 10, 2022. All forward-looking statements are expressly qualified in their entirety by these factors. The Company undertakes no obligation to update forward-looking statements, except as required by law.

Contact Investor

Amy Raskopf
Evofem Biosciences, Inc.
[email protected]
Mobile: (917) 673-5775

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SOURCEEvofem Biosciences, Inc.

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