Femasys prices 3.6M shares at 85c in underwritten public offering

Femasys (FEMY) announced the pricing of an underwritten public offering of 3,600,000 shares of its common stock at a public offering price of $0.85 per share and a separate concurrent private placement of 1,686,275 shares of its common stock at a price of $0.85 per share sold to certain existing institutional stockholders of Femasys and a price of $1.02 per share to certain of its directors and officers. The gross proceeds of the public offering and private placement to Femasys, before deducting the underwriting and placement agent discounts and commissions and other public offering and private placement expenses payable by Femasys, are expected to be approximately $4.5M. Femasys intends to use the net proceeds from the public offering and the private placement for expansion of commercial efforts, development of its products and product candidates, general corporate purposes, capital expenditures, working capital and general and administrative expenses. In addition, Femasys has granted the underwriter a 30-day option to purchase up to an additional 540,000 shares of its common stock sold in the public offering. All of the securities are to be sold by the Company. The public offering and the private placement are expected to close on or about June 2, 2025, subject to satisfaction of customary closing conditions. The closing of the public offering is not contingent on the private placement, and the closing of the private placement is not contingent on the public offering. Jones is acting as sole book-running manager for the public offering and placement agent for the private placement.