Evofem amends note agreement with Adjuvant, pushing maturity to December 2026

Evofem Biosciences disclosed in an 8-K filing that on October 9, 2026, it entered into a fifth amendment to a Securities Purchase Agreement originally dated October 14, 2020 with Adjuvant Global Health Technology Fund, L.P. and Adjuvant Global Health Technology Fund DE, L.P. Under the original agreement, Adjuvant had purchased convertible promissory notes from the company.¹

The amendment changes the terms governing when those notes must be repaid. The new maturity date is the earlier of December 1, 2026, the date of a change of control consummation if Adjuvant chooses to invoke that trigger, or the date of any note acceleration under Section 8 of the agreement.¹

The filing also addresses prepayment flexibility. Evofem cannot prepay the notes before December 1, 2026 unless Adjuvant gives prior written consent.¹

In addition to the maturity changes, the amendment altered the company's ongoing obligations under the agreement. The fifth amendment eliminated certain affirmative covenants that had been set out in section 7.1 of the Securities Purchase Agreement.¹

The amendment itself was filed as an exhibit to the 8-K, dated October 9, 2026. The exhibit is listed as the "Fifth Amendment to Securities Purchase Agreement dated as of October 9, 2026."¹ The report was signed by Evofem CEO Saundra Pelletier on October 15, 2026. The filing does not specify the outstanding principal amount of the notes or disclose further detail on the removed covenants beyond their reference to section 7.1 of the original agreement.