SAN
DIEGO, May 19, 2022 /PRNewswire/ -- Evofem
Biosciences, Inc. (Nasdaq: EVFM) (Evofem) today announced that it
intends to offer and sell shares of its common
stock (or pre-funded warrants to purchase common stock in
lieu of common stock to certain investors) and warrants to purchase
shares of its common stock in an underwritten public offering. The
proposed 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. 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.
Evofem intends to use the net proceeds from the offering for the
continuation of commercialization activities related to its
commercial product, Phexxi® (lactic acid, citric acid,
and potassium bitartrate) vaginal gel, the continuation of its
registrational Phase 3 clinical trial "EVOGUARD", which is
evaluating Phexxi for two potential new indications, the prevention
of chlamydia and gonorrhea in women, and related development
activities, and other general corporate purposes and other capital
expenditures.
Piper Sandler & Co. is acting
as sole book-running manager for the proposed offering.
The securities described above are being offered by Evofem
pursuant to a shelf registration statement on Form S-3 (File No.
333-258321) that was previously filed with and subsequently
declared effective by the Securities and Exchange Commission (SEC)
on August 5, 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 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 the
accompanying prospectus relating to the proposed offering, when
available, may also be obtained by contacting 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
Evofem Biosciences, Inc. (Nasdaq: EVFM) is 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 chlamydia and
gonorrhea. Evofem's first FDA-approved product, Phexxi®
(lactic acid, citric acid, and potassium bitartrate), is a
hormone-free, on-demand prescription contraceptive vaginal gel. It
comes in a box of 12 pre-filled applicators and is applied 0-60
minutes before each act of sex. Top-line data is expected in the
second half of 2022 from the registrational Phase 3 EVOGUARD
trial evaluating Phexxi for the prevention of chlamydia and
gonorrhea in women, two potential new indications.
Forward-Looking Statements
This press release includes "forward-looking statements" 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,
including without limitation statements related to the proposed
offering of securities by Evofem such as, statements related to the
consummation of the proposed offering, the exercise of the warrants
to be issued in the offering, the intended use of proceeds, the
potential terms of the offering, and the timing of the
registrational Phase 3 EVOGUARD trial. 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 offering,
the future cash exercise of the warrants, 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, 2021, filed with the SEC on
March 10, 2022 and its Quarterly
Report on Form 10-Q for the quarter ended March 31, 2022, filed with the SEC on
May 10, 2022. 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.
Investor Contact
Amy Raskopf
Evofem Biosciences, Inc.
araskopf@evofem.com
Mobile: (917) 673-5775
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SOURCE Evofem Biosciences, Inc.