Evofem Biosciences announces 1-for-125 reverse stock split effective May 18

Evofem Biosciences, Inc.

Reverse split ratio 1-for-125; reduces outstanding shares from ~249M to ~1.99M as of May 17, 2023.
New CUSIP 30048L302; trades under EVFMD for 20 business days, then reverts to EVFM.
No fractional shares issued; cash in lieu at closing price on May 17, 2023.
Proportional adjustments to exercise prices and shares of stock options, warrants, convertible notes.
Approved by stockholders at special meeting March 15, 2023; Board set exact ratio.

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

Evofem Biosciences, Inc.: Amended certificate of incorporation to effect a 1-for-125 reverse stock split, effective May 18, 2023 (effective 2023-05-18).

Change: charter amendment
Effective: 2023-05-18

Exact text from the filing

On May 17, 2023, the Company filed with the Secretary of State of the State of Delaware a Certificate of Correction (the “Certificate of Correction”) to change the effective time of the Reverse Stock Split from May 3, 2023 to May 18, 2023. As a result, the Reverse Stock Split will become effective upon the open of trading on the OTC Venture Market on May 18, 2023 (the “Effective Time”).

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Evofem Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-017984

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