Femasys Announces $3.9 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules

About this update from Femasys Inc.

[{"type":"text","content":"ATLANTA, April 19, 2023 (GLOBE NEWSWIRE) -- Femasys Inc. (NASDAQ: FEMY), a biomedical company aiming to meet women’s needs by developing a suite of products and product candidates that include minimally invasive, in-office technologies for reproductive health, today announced that it has entered into a definitive agreement for the issuance and sale of an aggregate of 3,196,722 of its shares of common stock (or common stock equivalents) at a purchase price of $1.22 per share (or common stock equivalent) in a registered direct offering priced at-the-market under Nasdaq rules. In a concurrent private placement, Femasys has also agreed to issue and sell unregistered warrants to purchase up to an aggregate of 3,196,722 shares of common stock. The offering is expected to close on or about April 20, 2023, subject to the satisfaction of customary closing conditions. H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering. The warrants will have an exercise price $1.095 per share, will become exercisable immediately upon issuance and have a term of five and one-half years from the date of issuance. The gross proceeds to the Company from the offering are expected to be approximately $3.9 million, before deducting the placement agent’s fees and other offering expenses payable by Femasys. Femasys currently intends to use the net proceeds from the offering for working capital and general corporate purposes. The shares of common stock (or common stock equivalents) offered in the registered direct offering (but excluding the unregistered warrants offered in the concurrent private placement and the shares of common stock underlying such unregistered warrants) are being offered and sold by the Company pursuant to a “shelf” registration statement on Form S-3 (Registration No. 333-266001), including a base prospectus, previously filed with the Securities and Exchange Commission (SEC) on July 1, 2022 and declared effective by the SEC on July 12, 2022. The offering of the shares of common stock (or common stock equivalents) to be issued in the registered direct offering are being made only by means of a prospectus supplement that forms a part of the registration statement. A final prospectus supplement and an accompanying base prospectus relating to the registered direct offering will be filed with the SEC and will be avail...

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