Evofem Biosciences entered into a subordinated promissory note to raise $706,304 from HUB Cyber Security. The 11-month note bears 12% annual interest, compounded monthly, and includes a $2,000-per-week monitoring fee (about $94,000 if held to maturity) plus a one-time $14,126 administration fee, all due at maturity. The note can be prepaid without penalty and includes covenants restricting mergers, asset sales, and other actions without consent. Proceeds are expected to support liquidity and ongoing operations.
Agreement details:
- Agreement type: Subordinated promissory note with 12% interest and monitoring fee
- Counterparty: HUB Cyber Security
- Signed / Effective: Jul 08 2026 / same
- Duration / Termination: 11 months
- Reason: Strengthen liquidity with short-term financing
Original SEC Filing:
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