Agile Therapeutics Announces Closing of $4.85 Million Registered Direct Offering
15 3월 2022 - 7:07AM
Agile Therapeutics, Inc. (Nasdaq: AGRX) ("Agile Therapeutics" or
the "Company"), a women's healthcare company, today announced that
it has closed its previously announced registered direct offering
with a single healthcare-focused institutional investor to sell
2,425 shares of Series A convertible preferred stock and 2,425
shares of Series B convertible preferred stock and Series A
warrants to purchase up to an aggregate of 24,250,000 shares of
common stock and Series B warrants to purchase up to an aggregate
of 24,250,000 shares of common stock. Each share of Series A and
Series B preferred stock has a stated value of $1,000 per share and
a conversion price of $0.20 per share. The shares of
preferred stock issued in the offering are convertible into an
aggregate of 24,250,000 shares of common stock. The Series A
warrants have an exercise price of $0.26 per share, will become
exercisable six months following the date of issuance, and will
expire 5 years following the initial exercise date. The Series B
warrants have an exercise price of $0.26 per share, will become
exercisable six months following the date of issuance, and will
expire one and one-half years following the initial exercise date.
Total gross proceeds from the offering, before deducting the
placement agent's fees and other estimated offering expenses,
is $4.85 million.
H.C. Wainwright & Co. acted as the exclusive placement agent
for the offering.
The Company intends to use the net proceeds from this offering
for working capital and general corporate purposes.
The securities described above were offered pursuant to a
registration statement on Form S-3 (333-249273), which was declared
effective by the Securities and Exchange Commission on October
14, 2020. The offering was made only by means of a prospectus
supplement and a prospectus that form a part of the registration
statement. A final prospectus supplement and accompanying
prospectus relating to the securities offered has been filed with
the SEC. Electronic copies of the final prospectus supplement and
accompanying prospectus may be obtained on the SEC's website
at http://www.sec.gov or by contacting H.C. Wainwright
& Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022,
by phone at (646) 975-6996 or e-mail
at placements@hcwco.com.
About Agile Therapeutics, Inc.Agile
Therapeutics is a women's healthcare company dedicated to
fulfilling the unmet health needs of today’s women. Our product and
product candidates are designed to provide women with contraceptive
options that offer freedom from taking a daily pill, without
committing to a longer-acting method. Our initial product, Twirla®,
(levonorgestrel and ethinyl estradiol), a transdermal system, is a
non-daily prescription contraceptive. Twirla is based on our
proprietary transdermal patch technology, called Skinfusion®, which
is designed to allow drug delivery through the skin. For more
information, please visit the company website at
www.agiletherapeutics.com. The Company may occasionally disseminate
material, nonpublic information on the Company’s website.
Forward-Looking Statements Certain information
contained in this press release includes "forward-looking
statements" within the meaning of The Private Securities Litigation
Reform Act of 1995, including statements related to our use of
proceeds from the offering and special meeting of shareholders. We
may, in some cases, use terms such as "predicts," "believes,"
"potential," "continue," "anticipates," "estimates," "expects,"
"plans," "intends," "may," "could," “might," "will," "should" or
other words that convey uncertainty of the future events or
outcomes to identify these forward-looking statements. Our
forward-looking statements are based on current beliefs and
expectations of our management team that involve risks, potential
changes in circumstances, assumptions, and uncertainties. Any or
all of the forward-looking statements may turn out to be wrong or
be affected by inaccurate assumptions we might make or by known or
unknown risks and uncertainties as a result of various important
factors, including the uncertainties related to market conditions
and the completion of the offering on the anticipated terms or at
all and various other factors. For a more detailed description of
the risks and uncertainties that could cause actual results to
differ from those expressed in these forward-looking statements, as
well as risks relating to our business in general, please refer to
our Annual Report on Form 10-K and our Quarterly Reports on Form
10-Q. You are cautioned not to place undue reliance on these
forward-looking statements, which are made only as of the date of
this press release. We undertake no obligation to publicly update
such forward-looking statements to reflect subsequent events or
circumstances.
Source: Agile Therapeutics
Media Inquiries:
Matt Riley
Head of Investor Relations and Corporate Communications
mriley@agiletherapeutics.com
Agile Therapeutics (NASDAQ:AGRX)
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