---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-011771"
form_type: "8-K"
ticker: "EVFM"
cik: "0001618835"
company_name: "Evofem Biosciences, Inc."
filed_at: "2023-04-10T23:59:59+00:00"
generated_at: "2026-06-17T04:09:34.883103+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Evofem raises ~$490k net via convertible notes at 8%; CEO Pelletier appointed Secretary

## Summary
- Issued $538,462 principal in senior subordinated convertible notes, 8% interest (12% on default), convertible at $0.01/share.
- Warrants to purchase up to 76.9M shares at $0.01/share, five-year term, with price adjustment provisions.
- Net proceeds ~$490,000; notes mature March 6, 2026; investors paid ~$650 per $1,000 principal.
- CEO Saundra Pelletier appointed as Secretary, replacing Justin J. File who resigned.
- Offering closed on April 5, 2023; notes include change-of-control redemption at 125% premium and various covenants.

## SEC filing metadata
- accession: 0001493152-23-011771
- form_type: 8-K
- ticker: EVFM
- cik: 0001618835
- company_name: Evofem Biosciences, Inc.
- filed_at: 2023-04-10T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618835/000149315223011771/0001493152-23-011771-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618835/000149315223011771/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-011771
- JSON: https://secwatch.observer/filing/0001493152-23-011771.json
- Plain text: https://secwatch.observer/filing/0001493152-23-011771.txt

## Key facts
- Executive change
  Justin J. File resigned as Secretary at Evofem Biosciences, Inc..
  - Action: resigned
  - Role: Secretary
  source text: which was left vacant as a result of the resignation by Justin J. File.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000149315223011771/0001493152-23-011771-index.htm
- Executive change
  Saundra Pelletier was appointed as Secretary at Evofem Biosciences, Inc..
  - Action: appointed
  - Role: Secretary
  source text: On April 5, 2023, the Company’s board of directors appointed Saundra Pelletier to fill the role as the Secretary of the Company, which was left vacant as a result of the resignation by Justin J. File.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000149315223011771/0001493152-23-011771-index.htm
- Material Agreements
  Evofem Biosciences, Inc. entered into Securities Purchase Agreement with Investors valued at Senior subordinate convertible notes due in aggregate original principal amount of $769,230.76, inte (effective 2023-04-05).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: Investors
  - Value: Senior subordinate convertible notes due in aggregate original principal amount of $769,230.76, inte
  - Effective: 2023-04-05
  source text: On April 5, 2023, Evofem Biosciences, Inc., a Delaware corporation (the “ Company ”), entered into a securities purchase agreement (“ SPA ”), with certain investors (the “ Investors ”) providing for the sale and issuance of senior subordinate convertible notes due in the aggregate original principal amount of $769,230.76 (the “ Notes ”) and warrants (“ Warrants ”) to purchase an aggregate 26,923,077 shares of common stock, par value $0.0001 per share (the “ Common Stock ”) (collectively, the “ Offering ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000149315223011771/0001493152-23-011771-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.