secwatch.observer — SEC 8-K summary
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Issuer:     Evofem Biosciences, Inc. (EVFM)
CIK:        0001618835
Form:       8-K
Filed at:   2022-12-21T23:59:59+00:00
Accession:  0001618835-22-000211
Event type: debt
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 5.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1618835/000161883522000211/0001618835-22-000211-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1618835/000161883522000211/evfm-20221216.htm
  HTML page:      https://secwatch.observer/filing/0001618835-22-000211

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer