Evofem Biosciences (EVFM) Announces Proposed Common Share Offering

Evofem Biosciences, Inc. (NASDAQ: EVFM) 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.

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