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CUSIP No. 30048L104
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13D
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Page 2 of 3 Pages
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This Amendment No. 4 (Amendment No. 4) is filed by
PDL BioPharma, Inc. (the Reporting Person) to amend and supplement the Schedule 13D originally filed on April 18, 2019 (as amended to date, the Schedule 13D), relating to the shares of common stock, par
value $0.0001 per share (the Common Stock), of Evofem BioSciences, Inc., a Delaware corporation (the Issuer).
Item 4.
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Purpose of the Transaction
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Item 4 of the Schedule 13D is hereby amended and supplemented by adding the following:
On May 21, 2020, as part of pro rata common stock dividend to its stockholders of record as of the close of business on May 15,
2020, the Reporting Person distributed 13,333,334 shares of the Issuers Common Stock. No fractional shares of the Issuers Common Stock were distributed; instead, the Reporting Persons stockholders received cash in lieu of any
fraction of a share of the Issuers Common Stock that they otherwise would have received.
Item 5.
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Interest in Securities of the Issuer
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Item 5(a)-(c) of the Schedule 13D is amended and restated in its entirety as follows:
(a) The Reporting Person is the record holder of, and has the sole power to vote or to direct the vote and sole power to dispose or to direct
the disposition of 3,333,334 shares of Common Stock subject to warrants that are fully exercisable (the Warrants). This ownership represents 6.3% of the Issuers Common Stock outstanding, based on 49,722,668 shares of Common
Stock outstanding as of April 30, 2020 and assuming the exercise of the Warrants.
(b) The Reporting Person is a publicly traded
company with common stock listed on the Nasdaq stock market. The Reporting Person is the direct beneficial owner of 3,333,334 shares of Common Stock subject to the Warrants, with respect to which it has sole voting and dispositive power.
(c) Except as set forth in Item 4, above, during the past 60 days neither the Reporting Person nor any Related Person has effected any
transactions in the Issuers Common Stock.