Evofem gets merger support pacts; secured lenders terminate forbearance, declare default

Evofem Biosciences, Inc.

Institutional investors with rights to ~1.09B common shares (via preferred, convertible notes, warrants) agreed to vote for Aditxt merger.
Forbearance agreement terminated Oct 27 after Designated Agent (Future Pak) sent Amended Notice of Default citing new defaults, including HHS obligations.
Default allows secured lenders to accelerate debt and exercise remedies under the SPA; prior forbearance covered only specified defaults.
Company's merger with Aditxt (via Merger Sub) still pending; debt default may affect closing or require renegotiation.

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