---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-024134"
form_type: "8-K"
ticker: "EVFM"
cik: "0001618835"
company_name: "Evofem Biosciences, Inc."
filed_at: "2023-07-10T23:59:59+00:00"
generated_at: "2026-06-13T10:35:40.614696+00:00"
event_type: "debt"
sentiment: "negative"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Evofem raises $965k net via $1.5M convertible note and warrant offering

## Summary
- Issued $1.5M principal of senior subordinated convertible notes with 8% interest (12% default); convertible at $1.25/share.
- Investors paid ~$650 per $1,000 principal (65% of face); net proceeds ~$965k after expenses.
- Warrants to purchase 1.2M shares at $1.25/share, exercisable for 5 years with cashless exercise and price adjustment.
- Notes mature March 6, 2026; change of control redemption at 125% premium; beneficial ownership capped at 4.99%.
- Registration rights agreement requires S-1 filing within 90 days; 2% monthly penalty for filing/effectiveness failure.

## SEC filing metadata
- accession: 0001493152-23-024134
- form_type: 8-K
- ticker: EVFM
- cik: 0001618835
- company_name: Evofem Biosciences, Inc.
- filed_at: 2023-07-10T23:59:59+00:00
- event_type: debt
- sentiment: negative
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618835/000149315223024134/0001493152-23-024134-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618835/000149315223024134/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-024134
- JSON: https://secwatch.observer/filing/0001493152-23-024134.json
- Plain text: https://secwatch.observer/filing/0001493152-23-024134.txt

## Key facts
- Material Agreements
  Evofem Biosciences, Inc. entered into Securities Purchase Agreement with certain investors valued at $1,500,000 (effective 2023-07-03).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain investors
  - Value: $1,500,000
  - Effective: 2023-07-03
  source text: On July 3, 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 $1,500,000
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000149315223024134/0001493152-23-024134-index.htm

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