Aspira Women’s Health Announces $1.935 Million Private Placement Equity Financing
July 01 2024 - 5:24PM
Aspira Women’s Health Inc. (“Aspira” or the “Company”) (Nasdaq:
AWH), a bio-analytical based women’s health company focused on the
development of gynecologic disease diagnostic tools, today
announced it has entered into a securities purchase agreement dated
June 30, 2024 with certain existing accredited shareholders and
Company insiders to issue and sell an aggregate of 1,264,739 shares
of its common stock (“Common Stock”) and warrants to purchase an
equal number of shares of Common Stock (“Warrants”) at a combined
offering price of $1.53 per share and warrant through a private
placement financing (the “Offering”). Aspira anticipates the gross
proceeds from the Offering will be approximately $1.935 million,
before deducting offering expenses. The warrants will be
exercisable for three years after date of issuance and have an
exercise price of $2.25 per share. The Offering is expected to
close by July 8, 2024 subject to customary closing conditions. Net
proceeds from the Offering will support Aspira’s ongoing commercial
activities as well as general corporate purposes and working
capital.
“The strong participation in this financing by our existing
shareholders demonstrates firm support for Aspira at an important
point in our growth,” said Nicole Sandford, Aspira’s CEO. “We are
laser-focused on commercial growth following the expansion of our
OvaSuite test portfolio and the publication of compelling clinical
data earlier this quarter. We believe we are well on our way to
changing the standard of care for the 1.2 to 1.5 million U.S. women
diagnosed with an adnexal mass each year.”
The securities being issued and sold in this private placement
have not been registered under the Securities Act of 1933, as
amended, or applicable state securities laws, and may not be
offered or sold in the United States except pursuant to an
effective registration statement or an applicable exemption from
the registration requirements. Aspira has agreed to file a
registration statement with the Securities and Exchange Commission
registering the resale of the shares of common stock issued in the
private placement.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy any securities described herein,
nor shall there be any sale of these securities in any state or
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or jurisdiction.
About Aspira Women’s Health Inc.Aspira Women’s
Health Inc. is dedicated to the discovery, development, and
commercialization of noninvasive, AI-powered tests to aid in the
diagnosis of gynecologic diseases.
OvaWatch® and Ova1Plus® are offered to clinicians as OvaSuiteSM.
Together, they provide the only comprehensive portfolio of blood
tests to aid in the detection of ovarian cancer for the 1.2+
million American women diagnosed with an adnexal mass each year.
OvaWatch provides a negative predictive value of 99% and is used to
assess ovarian cancer risk for women where initial clinical
assessment indicates the mass is indeterminate or benign, and thus
surgery may be premature or unnecessary. Ova1Plus is a reflex
process of two FDA-cleared tests, Ova1® and Overa®, to assess the
risk of ovarian malignancy in women planned for
surgery.
Our in-development test pipeline is designed to expand our
ovarian cancer portfolio and addresses the tremendous need for
noninvasive diagnostics for endometriosis, a debilitating disease
that impacts millions of women worldwide. In ovarian cancer, our
OvaMDxSM risk assessment is designed to combine microRNA and
protein biomarkers with patient data to further enhance the
sensitivity and specificity of our current tests. In endometriosis,
EndoCheckSM is the first-ever noninvasive test designed to identify
endometriomas, one of the most commonly occurring forms of
endometriosis. The EndoMDxSM test is designed to combine microRNA
and protein biomarkers with patient data to identify all
endometriosis.
Forward-Looking StatementsThis press release
contains forward-looking statements, as defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve a number of risks and uncertainties. Such
forward-looking statements include statements regarding, among
other things, the timing and completion of any products in the
pipeline development and other statements that are predictive in
nature. Actual results could differ materially from those discussed
due to known and unknown risks, uncertainties, and other factors.
These forward-looking statements generally can be identified by the
use of words such as “designed to,” “expect,” “plan,” “anticipate,”
“could,” “may,” “intend,” “will,” “continue,” “future,” other words
of similar meaning and the use of future dates. Forward-looking
statements in this press release and other factors that may cause
such differences include the satisfaction of customary closing
conditions related to the offering and the expected timing of the
closing of the offering. These and additional risks and
uncertainties are described more fully in the company’s filings
with the SEC, including those factors identified as “Risk Factors”
in our most recent Annual Report on Form 10-K, for the fiscal year
ended December 31, 2023, and subsequent Quarterly Reports on Form
10-Q. If any of these risks materialize or our assumptions prove
incorrect, actual results could differ materially from the results
implied by these forward-looking statements. There may be
additional risks that Aspira presently does not know, or that
Aspira currently believes are immaterial, that could also cause
actual results to differ from those contained in the
forward-looking statements. In addition, forward-looking statements
reflect Aspira’s expectations, plans, or forecasts of future events
and views as of the date of this press release. Subsequent events
and developments may cause the Company’s assessments to change.
However, while Aspira may elect to update these forward-looking
statements at some point in the future, Aspira expressly disclaims
any obligation to do so, except as required by law. These
forward-looking statements should not be relied upon as
representing Aspira’s assessments of any date after the date of
this press release. Accordingly, undue reliance should not be
placed upon the forward-looking statements.
Investor Relations Contact: Nicole
Sandford Chief Executive OfficerInvestors@aspirawh.com
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