AGRX - Agile Therapeutics stock slips on $4.85M equity offering

Agile Therapeutics (NASDAQ:AGRX) is down ~6% pre-market after announcing a $4.85M equity offering. The women's healthcare company entered into a securities purchase agreement with a single healthcare-focused institutional investor to sell 2,425 shares of Series A convertible preferred stock and 2,425 shares of Series B convertible preferred stock and Series A warrants to purchase up to an aggregate of 24.25M shares of common stock and Series B warrants to purchase up to an aggregate of 24.25M shares of common stock. Each share of Series A and Series B preferred stock has a stated value of $1,000/share and a conversion price of $0.20/share. The shares of preferred stock issued in the offering are convertible into an aggregate of 24.25M shares of common stock. The Series A warrants have $0.26/share exercise price, will become exercisable six months following the date of issuance and will expire 5 years following the initial exercise date. The Series

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Agile Therapeutics stock slips on $4.85M equity offering