ROTH Capital Partners Acts as Co-Manager for
Evofem Biosciences, Inc. (NASDAQ: EVFM)
in its $40 Million Follow-On

   

For more information please contact:

Investment Banking
James Antonopoulos
Managing Director
Co-Head of Healthcare
Investment Banking
(646) 358-1906
jantonopoulos@roth.com

Eric B. Cheng
Managing Director
Co-Head of Healthcare
Investment Banking
(646) 358-1901
echeng@roth.com

Equity Capital Markets
Aaron Gurewitz
Head of Equity
Capital Markets
(949) 720-5703
agurewitz@roth.com
 
Nazan Akdeniz
Senior Vice President
(949) 720-5740
nakdeniz@roth.com
 
Lou Ellis
Senior Vice President
(949) 720-5739
lellis@roth.com

Transaction Information
Evofem Biosciences, Inc., (NASDAQ: EVFM), a clinical-stage biopharmaceutical company committed to developing and commercializing innovative products to address unmet needs in women's sexual and reproductive health, has closed an underwritten public offering of up to 8.5 million shares in aggregate of common stock or, in lieu of shares of common stock, pre-funded warrants exercisable for shares of common stock, and accompanying common warrants to purchase an aggregate of 1.7 million shares of common stock.

The shares and pre-funded warrants were sold at a public offering price of $4.69 per share and $4.68 per pre-funded warrant, respectively. Each share of common stock and pre-funded warrant is being sold together with a common warrant to purchase one-fifth of a share of the Company's common stock at an exercise price of $7.50 per share. Each common warrant is being issued at a price of $0.01. The common warrants will be exercisable immediately and will expire seven years from the date of issuance.

The proceeds to Evofem from this offering were approximately $40 million. As part of the offering, Evofem granted the underwriters a 30 day option to purchase up to an additional 1,275,000 shares of common stock and/or common warrants to purchase up to an aggregate of 255,000 shares of common stock. All of the shares of common stock and warrants are being offered by Evofem.

Evofem intends to use the proceeds from this offering to fund its ongoing Phase 3 clinical trial of Amphora() (L-lactic acid, citric acid, and potassium bitartrate) vaginal gel for the prevention of pregnancy, which is fully enrolled and from which it expects to report top line results in the first quarter of 2019 and the ongoing Phase 2b clinical trial of Amphora for the prevention of urogenital transmission of chlamydia and gonorrhea in women, as well as for general corporate purposes, funding working capital needs and any necessary capital expenditures.

ROTH Capital Partners acted as co-manager for the offering.

About Evofem Biosciences, Inc.
Evofem Biosciences, Inc., (NASDAQ: EVFM) is a clinical-stage biopharmaceutical company committed to developing and commercializing innovative products to address unmet needs in women's sexual and reproductive health. Evofem is leveraging its proprietary Multi-purpose Prevention Technology vaginal gel to develop product candidates for multiple indications, including contraception, the prevention of urogenital transmission of chlamydia and gonorrhea in women, and recurrent bacterial vaginosis. For more information, please visit www.evofem.com.
(Source: Company Press Release | 5/22/18)

About ROTH Capital Partners
ROTH Capital Partners, LLC (ROTH), is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. For more information on ROTH, please visit www.roth.com.

Date of Announcement: 5/31/18

The material, information and  facts discussed in this announcement other than the information regarding ROTH Capital Partners, LLC ("ROTH") and its affiliates, are from sources believed to be reliable, but are in no way guaranteed to be complete or accurate. This announcement should not be used as a complete analysis of any companies, securities or topics discussed herein. Additional information is available upon request. This is not, however, an offer or solicitation of the securities discussed. Any opinions or estimates in this announcement are subject to change without notice. An investment in any security based on this announcement may involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Additionally, such investments may involve a high degree of risk and may not be suitable for all investors. No part of this announcement may be reproduced in any form without the express written permission of ROTH. Copyright 2018.