On October 9, 2026, Evofem Biosciences, Inc. entered into a fifth amendment (the “Fifth Amendment”) to the Securities Purchase Agreement dated October 14, 2020. The amendment was executed with Adjuvant Global Health Technology Fund, L.P., and Adjuvant Global Health Technology Fund DE, L.P. (collectively referred to as “Adjuvant”).
The Fifth Amendment modifies the terms of the agreement under which Adjuvant purchased certain convertible promissory notes (the “Notes”) from the Company. A primary change involves the maturity date of the Notes. The payment deadline is now set for the earlier of December 1, 2026, or the date of a consummated Change of Control, or the date of any acceleration of the Notes in accordance with Section 8 of the original agreement.
Additionally, the amendment stipulates that the Notes may not be prepaid prior to December 1, 2026, without the prior written consent of Adjuvant. The Fifth Amendment also removed certain affirmative covenants as outlined in Section 7.1 of the Securities Purchase Agreement.
