Evofem Biosciences hits record low on $26.6 mln equity offering

Evofem Biosciences

20/05/2022 16:00

** Women's contraception maker's shares  EVFM.O  plunge over
60% to record low of $0.43 in morning trade - on track for
biggest pct fall in almost five years
    ** Announces $26.6 million public equity offering at $0.75
per share  urn:newsml:reuters.com:*:nPn2z8b7a
    ** Expects offering to close around Tuesday, and net
proceeds to be used for commercialization activities related to
its women's contraception gel Phexxi
    ** Co has 12.7 million shares outstanding, as per Refinitiv
data
    ** Including session's slump, stock now down 92% YTD

 (Reporting by Leroy Leo in Bengaluru)
 ((Leroy.Dsouza@thomsonreuters.com ; Twitter: https://twitter.com/LeroyLeo7;))