---
schema_version: "secwatch.filing_event.v1"
accession: "0001618835-23-000011"
form_type: "8-K"
ticker: "EVFM"
cik: "0001618835"
company_name: "Evofem Biosciences, Inc."
filed_at: "2023-02-23T23:59:59+00:00"
generated_at: "2026-06-19T02:43:15.050386+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Evofem Biosciences raises ~$739k net via sale of convertible notes and warrants

## Summary
- Aggregate principal $1.38M; net proceeds ~$739k after expenses.
- Notes bear 8% interest, mature in 3 years, convertible at $0.02/share.
- Warrants exercisable at $0.02/share, expire in 5 years.
- Beneficial ownership limitation of 4.99% applies to conversion/exercise.
- Registration rights agreement filed for resale of underlying shares.

## SEC filing metadata
- accession: 0001618835-23-000011
- form_type: 8-K
- ticker: EVFM
- cik: 0001618835
- company_name: Evofem Biosciences, Inc.
- filed_at: 2023-02-23T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618835/000161883523000011/0001618835-23-000011-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618835/000161883523000011/evfm-20230217.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001618835-23-000011
- JSON: https://secwatch.observer/filing/0001618835-23-000011.json
- Plain text: https://secwatch.observer/filing/0001618835-23-000011.txt

## Key facts
- Material Agreements
  Evofem Biosciences, Inc. entered into Securities Purchase Agreement with certain investors valued at aggregate original principal amount of $1,384,615.39 (effective 2023-02-17).
  - Action: entry
  - Agreement: notes offering
  - Counterparty: certain investors
  - Value: aggregate original principal amount of $1,384,615.39
  - Effective: 2023-02-17
  source text: On February 17, 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 $1,384,615.39 (the “ Notes” ) and warrants (“ Warrants” ) to purchase an aggregate 69,230,769 shares of common stock, par value $0.0001 per share (the “ Common Stock ”) (collectively, the “ Offering” ). The Offering closed on February 17, 2023 (the “ Closing Date” ) and as a result, the Company issued an aggregate $1,384,615.39 in the aggregate principal amount of Notes and Warrants to purchase 69,230,769 shares of Common Stock.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000161883523000011/0001618835-23-000011-index.htm

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