Agile Therapeutics (AGRX) Prices 1.87M Share Offering at $3.96/sh

Agile Therapeutics, Inc. (Nasdaq: AGRX) today announced the pricing of its public offering of an aggregate of 1,896,286 shares of its common stock, together with accompanying common stock warrants, at a public offering price of $3.9551 per share and accompanying warrants. Each share of common stock was sold in the offering together with a Series C-1 warrant to purchase one share of common stock at an exercise price of $3.69 per share and a Series C-2 warrant to purchase one share of common stock at an exercise price of $3.69 per share. The Series C-1 warrants are exercisable immediately and will expire five years from the date of issuance, and the Series C-2 warrants are exercisable immediately and will expire eighteen months from the date of issuance. Total gross proceeds from the offering, before deducting the placement agent's fees and other offering expenses, are expected to be approximately $7.5 million.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The closing of the offering is expected to occur on or about May 25, 2023, subject to the satisfaction of customary closing conditions. The Company intends to use the net proceeds from this offering for working capital, business development activities, and other general corporate purposes. The securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333- 271249), which was declared effective by the Securities and Exchange Commission (the “SEC”) on May 22, 2023. The offering is being made only by means of a prospectus forming part of the effective registration statement relating to the offering. A preliminary prospectus relating to the offering has been filed with the SEC. Electronic copies of the final prospectus, when available, may be obtained on the SEC’s website at http://www.sec.gov and may also be obtained by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212) 856-5711 or e-mail at [email protected].

In connection with the offering, the Company also has agreed to amend certain existing warrants to purchase up to an aggregate of 229,669 shares of the Company's common stock that were previously issued in October 2021 through July 2022 at exercise prices ranging from $45.00 to $1,700.00 per share, such that effective upon the closing of the offering the amended warrants will have a reduced exercise price of $3.69 per share and will expire five years from the closing of the offering.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, 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.

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