Evofem issues $1.15M convertible notes to Aditxt as part of merger financing

Evofem Biosciences, Inc.

Issued $1,153,846 principal in senior subordinated convertible notes and warrants to buy 74,925,075 shares to Aditxt.
Net proceeds of ~$750,000 from partial close on April 8; Aditxt paid $650 per $1,000 principal.
Notes bear 8% interest (12% default), mature April 8, 2028, convertible at $0.0154 per share; warrants at same price.
Waived Aditxt default for missing $1.5M Fifth Parent Investment; second half must close by April 16 or merger can end.
Aditxt obtained call option from Adjuvant to buy convertible notes for $13M, contingent on senior debt satisfaction.

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