SAN DIEGO, June 2, 2020 /PRNewswire/ -- Evofem
Biosciences, Inc. (NASDAQ: EVFM), a commercial-stage
biopharmaceutical company committed to developing and
commercializing innovative products to address unmet needs in
women's sexual and reproductive health, today announced that it
intends to offer and sell, subject to market and other conditions,
shares of its common stock in an underwritten public offering. In
addition, Evofem expects to grant the underwriters a 30-day option
to purchase up to an additional 15% of shares of its common stock
offered in the offering at the public offering price, less the
underwriting discounts and commissions. All of the shares of common
stock 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.
Morgan Stanley and Piper Sandler
are acting as joint book-running managers for the proposed
offering.
The shares described above are being offered by Evofem pursuant
to a shelf registration statement on Form S-3 that was previously
filed with and subsequently declared effective by the Securities
and Exchange Commission (SEC) on December 2,
2019. The shares may be offered only by means of a
prospectus. 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. Copies of
the preliminary prospectus supplement and the accompanying
prospectus, when available, may also be obtained by contacting:
Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180
Varick Street, 2nd Floor, New York,
NY 10014; or Piper Sandler
& Co., 800 Nicollet Mall, J12S03, Minneapolis, MN 55402, Attention: Prospectus
Department , or by telephone at (800) 747-3924, or by email at
prospectus@psc.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, Inc.
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.
Evofem Biosciences aims to advance the quality of life for women by
developing innovative solutions, such as hormone-free,
woman-controlled contraception and protection from certain sexually
transmitted infections (STIs). The Company's first commercial
product, Phexxi™ (lactic acid, citric acid and potassium
bitartrate), is approved in the United
States for the prevention of pregnancy. The Company is
advancing EVO100 for the prevention of urogenital transmission of
both Chlamydia trachomatis infection (chlamydia)
and Neisseria gonorrhoeae infection (gonorrhea) in
women.
Forward-Looking Statements
This press release
includes forward-looking statements, including statements related
to the proposed public offering of securities by Evofem such as the
potential terms of the offering and Evofem's expectations with
respect to granting the underwriters a 30-day option to purchase
additional shares of its common stock. For these statements, Evofem
claims the protection 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, 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, including risks and
uncertainties related to completion of the public offering on the
anticipated terms or at all, market conditions and the satisfaction
of customary closing conditions related to the public offering.
Actual results may differ materially from those, express or
implied, in these forward-looking statements. Important factors
that could impair the value of Evofem Biosciences' assets and
business are disclosed in Evofem's SEC filings, including its
Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on
March 12, 2020, its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2020 filed with the SEC on May 6, 2020 and its Current Report on Form 8-K
filed with the SEC on June 2, 2020.
All forward-looking statements are expressly qualified in their
entirety by such factors. Evofem does not undertake any duty to
update any forward-looking statement except as required by law.
Contact
Investor Relations
Amy Raskopf
Evofem Biosciences
araskopf@evofem.com
O: (858) 550-1900 x167
M: (917) 673-5775
Media
Cara Miller
Evofem Biosciences
cmiller@evofem.com
O: (858) 550-1900 x272
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SOURCE Evofem Biosciences, Inc.