---
schema_version: "secwatch.filing_event.v1"
accession: "0001618835-22-000211"
form_type: "8-K"
ticker: "EVFM"
cik: "0001618835"
company_name: "Evofem Biosciences, Inc."
filed_at: "2022-12-21T23:59:59+00:00"
generated_at: "2026-06-21T00:51:55.015398+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Evofem raises ~$1.25M net through $2.3M principal convertible notes, warrants, and preferred stock

## Summary
- Raised ~$1.25M net via $2.3M principal senior secured convertible notes, warrants, and Series D Preferred Stock.
- Notes convert at $0.05/share, 8% interest, mature in 3 years; warrants exercisable at $0.05 for 46.2M shares.
- Series D Preferred Stock has voting rights equal to 1% of common per share, only to approve reverse stock split.
- CFO Justin J. File appointed as Secretary; forbearance amended to allow up to $5M additional pari passu debt.
- Net proceeds ~$1.25M after expenses; investors paid $650 per $1,000 principal.

## SEC filing metadata
- accession: 0001618835-22-000211
- form_type: 8-K
- ticker: EVFM
- cik: 0001618835
- company_name: Evofem Biosciences, Inc.
- filed_at: 2022-12-21T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 5.03, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618835/000161883522000211/0001618835-22-000211-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618835/000161883522000211/evfm-20221216.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001618835-22-000211
- JSON: https://secwatch.observer/filing/0001618835-22-000211.json
- Plain text: https://secwatch.observer/filing/0001618835-22-000211.txt

## Key facts
- Executive change
  Justin J. File was appointed as Secretary at Evofem Biosciences, Inc..
  - Action: appointed
  - Role: Secretary
  source text: On December 19, 2022 Company appointed Justin J. File as Secretary, effective December 16, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000161883522000211/0001618835-22-000211-index.htm
- Governance Changes
  Evofem Biosciences, Inc.: 公司提交指定证书创建D系列优先股，构成公司章程修订 (effective 2022-12-16).
  - Change: charter amendment
  - Effective: 2022-12-16
  source text: On December 16, 2022 the Company filed a certificate of designation to create the Series D Preferred Stock (the “ Certificate of Designation” ) with the Secretary of State, Division of Corporations in Delaware.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000161883522000211/0001618835-22-000211-index.htm
- Material Agreements
  Evofem Biosciences, Inc. entered into "SPA" with certain investors valued at $2,307,692 (effective 2022-12-20).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain investors
  - Value: $2,307,692
  - Effective: 2022-12-20
  source text: On December 20, 2022, 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 secured convertible notes due in the aggregate original principal amount of $2,307,692 (the “ Notes” ), warrants to purchase an aggregate 46,153,847 shares of common stock (“ Warrants” ) and an aggregate 70 shares of Series D Preferred Stock (the “ Preferred Shares ”) (collectively, the “ Offering” ).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000161883522000211/0001618835-22-000211-index.htm

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