Femasys gets FDA IDE approval for FemBloc final trial phase, secures $12M financing

FEMASYS INC

FDA IDE approval to continue enrollment in Part B of FINALE pivotal trial for FemBloc non-surgical permanent birth control.
$12M senior secured convertible notes issued with potential total proceeds of $58M if all warrants exercised.
Notes bear 8.5% interest, 10-year maturity, convertible at $0.73/share (15% premium to last close).
Warrants issued at exercise prices of $0.81, $0.92, and $1.10 per share, each for 16.4M shares.
Proceeds to refinance debt and advance commercialization of fertility and birth control portfolio.

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