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
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 email@example.com.
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
Evofem Biosciences, Inc.
(NASDAQ: EVFM) is a commercial-stage biopharmaceutical company
committed to developing and commercializing innovative products to
address unmet needs in women's sexual and reproductive health,
including hormone-free, woman-controlled contraception and
protection from certain sexually transmitted infections (STIs). The
Company launched its first FDA-approved commercial product,
Phexxi®, in the United States in
September 2020. The Company's lead
product candidate, EVO100, is being evaluated for the prevention of
urogenital Chlamydia trachomatis and Neisseria
gonorrhoeae infection in women in the ongoing Phase 3 clinical
Phexxi® is a registered trademark of Evofem Biosciences,
This press release includes
"forward-looking statements," including without limitation
statements related to the proposed public offering of securities by
Evofem such as, statements related to the consummation of the
proposed public offering, intended use of proceeds, the potential
terms of the offering and Evofem's expectations with respect to
granting the underwriter a 30-day option to purchase additional
securities, within the meaning of the safe harbor for
forward-looking statements provided by Section 21E of the
Securities Exchange Act of 1934, as amended, and the Private
Securities Litigation Reform Act of 1995. Various factors could
cause actual results to differ materially from those discussed or
implied in the forward-looking statements, including satisfaction
of customary closing conditions related to the proposed public
offering and market and other conditions, and you are cautioned not
to place undue reliance on these forward-looking statements, which
are current 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 impair the value of Evofem Biosciences'
assets and business, are disclosed in the Company's SEC filings,
including its Annual Report on Form 10-K for the year ended
December 31, 2020 filed with the SEC
on March 4, 2021. All forward-looking
statements are expressly qualified in their entirety by such
factors. The Company does not undertake any duty to update any
forward-looking statement except as required by law.
Evofem Biosciences, Inc.
Mobile: (917) 673-5775
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SOURCE Evofem Biosciences, Inc.