---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-035239"
form_type: "8-K"
ticker: "EVFM"
cik: "0001618835"
company_name: "Evofem Biosciences, Inc."
filed_at: "2023-10-03T23:59:59+00:00"
generated_at: "2026-06-10T05:32:03.750527+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Evofem raises $1.5M via $2.88M convertible notes with warrants at $0.13 strike

## Summary
- Issued $2,884,615 principal of 8% senior subordinate convertible notes due Sept 2026, convertible at $0.13/share.
- Sold at 65% of face value; net proceeds approximately $1.5 million after offering costs.
- Warrants: Series A (22.2M shares at $0.13) and prepaid Series B (4.8M shares at $0.001 after $0.129 prepayment).
- Beneficial ownership blocker set at 4.99%; company must file registration statement within 90 days.
- Covenants restrict additional debt, liens, dividends, and require auditor registered with PCAOB.

## SEC filing metadata
- accession: 0001493152-23-035239
- form_type: 8-K
- ticker: EVFM
- cik: 0001618835
- company_name: Evofem Biosciences, Inc.
- filed_at: 2023-10-03T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618835/000149315223035239/0001493152-23-035239-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618835/000149315223035239/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-035239
- JSON: https://secwatch.observer/filing/0001493152-23-035239.json
- Plain text: https://secwatch.observer/filing/0001493152-23-035239.txt

## Key facts
- Material Agreements
  Evofem Biosciences, Inc. entered into Securities Purchase Agreement with certain investors valued at Aggregate principal amount of $2,884,615 of senior subordinate convertible notes, Series A Warrants (effective 2023-09-27).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: certain investors
  - Value: Aggregate principal amount of $2,884,615 of senior subordinate convertible notes, Series A Warrants
  - Effective: 2023-09-27
  source text: On September 27, 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 $2,884,615 (the “ Notes ”), warrants to purchase an aggregate of 22,189,349 shares (the “ Series A Warrants ”) of common stock the Company, par value $0.0001 (the “Common Stock”), and prepaid warrants to purchase an aggregate of 4,807,692 shares of Common Stock (the “ Series B Warrants ,” and, together with the Series A Warrants, the “ Warrants ”) (collectively, the “ Offering ”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000149315223035239/0001493152-23-035239-index.htm

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