---
schema_version: "secwatch.filing_event.v1"
accession: "0001618835-23-000019"
form_type: "8-K"
ticker: "EVFM"
cik: "0001618835"
company_name: "Evofem Biosciences, Inc."
filed_at: "2023-03-24T23:59:59+00:00"
generated_at: "2026-06-17T16:40:45.197815+00:00"
event_type: "debt"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Evofem raises ~$295K via $538K convertible notes & warrants at $0.02/unit

## Summary
- Issued $538,461.54 senior subordinate convertible notes (8% interest) and warrants for 26,923,077 common shares at $0.02 exercise price.
- Net proceeds to company approx $295,000 after expenses; investors paid ~$650 per $1,000 principal.
- Notes convertible at $0.02 per share, mature 3 years from March 20, 2023; warrants expire 5 years from issuance.
- Company's stockholders approved reverse stock split on March 15, 2023; shares trade on OTCQB under EVFM.
- Registration rights agreement requires filing Form S-1 within set deadlines; potential 2% monthly penalties for registration failures.

## SEC filing metadata
- accession: 0001618835-23-000019
- form_type: 8-K
- ticker: EVFM
- cik: 0001618835
- company_name: Evofem Biosciences, Inc.
- filed_at: 2023-03-24T23:59:59+00:00
- event_type: debt
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1618835/000161883523000019/0001618835-23-000019-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1618835/000161883523000019/evfm-20230320.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001618835-23-000019
- JSON: https://secwatch.observer/filing/0001618835-23-000019.json
- Plain text: https://secwatch.observer/filing/0001618835-23-000019.txt

## Key facts
- Material Agreements
  Evofem Biosciences, Inc. entered into Securities Purchase Agreement with certain investors valued at $538,461.54 (effective 2023-03-20).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: certain investors
  - Value: $538,461.54
  - Effective: 2023-03-20
  source text: On March 20, 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 $538,461.54 (the “ Notes ”) and warrants (“ Warrants ”) to purchase an aggregate 26,923,077 shares of common stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1618835/000161883523000019/0001618835-23-000019-index.htm

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