Aspira Women's Health Announces Closing of $1.37 Million Private Placement of Convertible Notes
Aspira Women's Health (NASDAQ:AWH) has announced the closing of a $1.37 million private placement of Senior Secured Convertible Promissory Notes due March 6, 2030. The notes, sold to existing and new accredited investors, will accrue interest at 3.34% payable quarterly.
The Convertible Notes can be converted into units comprising one share of common stock and 2.25 warrants at $0.25 per unit. The warrants are exercisable for five years at $0.50 per share, with an option to exercise at $0.25 per share between months 6-24 after issuance. The company maintains the right to convert the notes if total gross proceeds from sales reach $4 million.
The proceeds will support Aspira's ongoing commercial activities, general corporate purposes, and working capital. The securities sold in this private placement are not registered under the Securities Act of 1933.
Aspira Women's Health (NASDAQ:AWH) ha annunciato la chiusura di un collocamento privato di 1,37 milioni di dollari di Note Convertibili Promissorie Senior Garantite con scadenza il 6 marzo 2030. Le note, vendute a investitori accreditati esistenti e nuovi, matureranno un interesse del 3,34% pagabile trimestralmente.
Le Note Convertibili possono essere convertite in unità costituite da un'azione ordinaria e 2,25 warrant a 0,25 dollari per unità. I warrant sono esercitabili per cinque anni a 0,50 dollari per azione, con un'opzione di esercizio a 0,25 dollari per azione tra il sesto e il ventesimo mese dopo l'emissione. L'azienda si riserva il diritto di convertire le note se i proventi lordi totali dalle vendite raggiungono i 4 milioni di dollari.
I proventi supporteranno le attività commerciali in corso di Aspira, le esigenze aziendali generali e il capitale circolante. I titoli venduti in questo collocamento privato non sono registrati ai sensi del Securities Act del 1933.
Aspira Women's Health (NASDAQ:AWH) ha anunciado el cierre de un colocación privada de 1.37 millones de dólares de Notas Promisorias Convertibles Senior Garantizadas con vencimiento el 6 de marzo de 2030. Las notas, vendidas a inversores acreditados existentes y nuevos, generarán un interés del 3.34% pagadero trimestralmente.
Las Notas Convertibles se pueden convertir en unidades que comprenden una acción ordinaria y 2.25 warrants a 0.25 dólares por unidad. Los warrants son ejercitables por cinco años a 0.50 dólares por acción, con una opción de ejercicio a 0.25 dólares por acción entre el sexto y el vigésimo mes después de la emisión. La empresa se reserva el derecho de convertir las notas si los ingresos brutos totales de las ventas alcanzan los 4 millones de dólares.
Los ingresos apoyarán las actividades comerciales en curso de Aspira, los propósitos corporativos generales y el capital de trabajo. Los valores vendidos en esta colocación privada no están registrados bajo la Ley de Valores de 1933.
Aspira Women's Health (NASDAQ:AWH)는 2030년 3월 6일 만기인 137만 달러 규모의 사모 배치를 마감했다고 발표했습니다. 기존 및 신규 인증 투자자에게 판매된 이 어음은 분기마다 지급되는 3.34%의 이자를 발생시킵니다.
전환 어음은 단위당 0.25달러의 가격으로 보통주 1주와 2.25개의 워런트로 구성된 단위로 전환할 수 있습니다. 워런트는 0.50달러의 가격으로 5년 동안 행사할 수 있으며, 발행 후 6~24개월 사이에 0.25달러의 가격으로 행사할 수 있는 옵션이 있습니다. 회사는 판매로 인한 총 총수익이 400만 달러에 도달하면 어음을 전환할 권리를 보유합니다.
수익금은 Aspira의 지속적인 상업 활동, 일반 기업 목적 및 운영 자본을 지원하는 데 사용됩니다. 이 사모 배치에서 판매된 증권은 1933년 증권법에 따라 등록되지 않았습니다.
Aspira Women's Health (NASDAQ:AWH) a annoncé la clôture d'un placement privé de 1,37 million de dollars d'obligations convertibles sécurisées senior arrivant à échéance le 6 mars 2030. Les obligations, vendues à des investisseurs accrédités existants et nouveaux, produiront un intérêt de 3,34% payable trimestriellement.
Les Obligations Convertibles peuvent être converties en unités comprenant une action ordinaire et 2,25 bons de souscription à 0,25 dollar par unité. Les bons de souscription peuvent être exercés pendant cinq ans à 0,50 dollar par action, avec une option d'exercice à 0,25 dollar par action entre le sixième et le vingt-quatrième mois après l'émission. L'entreprise se réserve le droit de convertir les obligations si le total des produits bruts des ventes atteint 4 millions de dollars.
Les produits soutiendront les activités commerciales en cours d'Aspira, les objectifs d'entreprise généraux et le fonds de roulement. Les titres vendus dans ce placement privé ne sont pas enregistrés en vertu de la loi sur les valeurs mobilières de 1933.
Aspira Women's Health (NASDAQ:AWH) hat den Abschluss einer Privatplatzierung in Höhe von 1,37 Millionen US-Dollar von senioren gesicherten wandelbaren Schuldverschreibungen mit Fälligkeit am 6. März 2030 bekannt gegeben. Die Anleihen, die an bestehende und neue akkreditierte Investoren verkauft wurden, werden mit 3,34% Zinsen, die vierteljährlich zahlbar sind, verzinst.
Die wandelbaren Schuldverschreibungen können in Einheiten umgewandelt werden, die eine Stammaktie und 2,25 Warrants zu 0,25 US-Dollar pro Einheit umfassen. Die Warrants sind fünf Jahre lang zu 0,50 US-Dollar pro Aktie ausübbar, mit einer Option zur Ausübung zu 0,25 US-Dollar pro Aktie zwischen dem 6. und 24. Monat nach der Emission. Das Unternehmen behält sich das Recht vor, die Anleihen umzuwandeln, wenn die Gesamterlöse aus Verkäufen 4 Millionen US-Dollar erreichen.
Die Erlöse unterstützen die laufenden Geschäftstätigkeiten von Aspira, allgemeine Unternehmenszwecke und Betriebskapital. Die in dieser Privatplatzierung verkauften Wertpapiere sind nicht gemäß dem Securities Act von 1933 registriert.
- Secured additional $1.37M in funding through convertible notes
- Support from both existing and new accredited investors
- Flexible conversion terms with warrant coverage
- 5-year maturity provides long-term financing stability
- Potential dilution for existing shareholders upon conversion
- High warrant coverage (2.25 warrants per share) increases dilution risk
- Low conversion price of $0.25 indicates weak negotiating position
- Additional debt burden with 3.34% interest rate
Insights
Aspira Women's Health's $1.37 million convertible note financing represents a critical capital infusion for this $3.68 million market cap diagnostics company. The structure of this deal is particularly noteworthy for investors. The senior secured convertible notes mature in 2030 with interest accruing at
The conversion terms deserve close scrutiny: notes convert at
For existing shareholders, this financing brings mixed implications. While providing necessary working capital for commercial activities, the deal structure introduces substantial potential dilution. At the
The secured nature of the notes indicates investors wanted downside protection, suggesting higher perceived risk. However, the company's ability to attract this capital, albeit with generous terms, provides operational runway while it pursues its diagnostic tools commercialization strategy.
AUSTIN, TX / ACCESS Newswire / March 11, 2025 / 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 that it has entered into a securities purchase agreement dated March 6, 2025, pursuant to which the Company has sold and issued an aggregate principal amount of
The Convertible Notes will be a senior, secured obligation of the Company and interest will accrue and be payable quarterly in kind at the applicable federal rate (currently
The Convertible Notes will be convertible into units consisting of one share of common stock and 2.25 warrants at the option of the holder at any time prior to the Maturity Date. The initial conversion price is
Net proceeds from the offering will be used to support Aspira's ongoing commercial activities as well as general corporate purposes and working capital.
In addition, the Company granted the purchasers of the Convertible Notes certain customary registration rights with respect to the shares of common stock and shares of common stock underlying the warrants issuable upon conversion of the Convertible Notes.
"We are very pleased to announce this important capital infusion," said Mike Buhle, Chief Executive Officer at Aspira. "We greatly appreciate this strong demonstration of support and confidence shown by these investors. These shareholders are well apprised of the current growth opportunities and near-term catalysts for Aspira, and their continued financial support has been key to our ability to successfully pursue our business objectives for 2025 and beyond."
The securities offered and sold by the Company in the Private Placement have not been registered under the Securities Act of 1933, as amended (the "Securities Act"), or state securities laws and may not be offered or sold in the United States absent registration with the Securities and Exchange Commission (the "SEC") or an applicable exemption from such registration requirements.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, 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 registration or qualification under the securities laws of any such state or jurisdiction. The securities will not be registered under the Securities Act or any state securities laws when issued at the closing of the private placement, and unless so registered, may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state laws.
About Aspira Women's Health Inc.
Aspira Women's Health Inc. is dedicated to the discovery, development, and commercialization of noninvasive, AI-enabled 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 risk for the more than 1.2 million American women diagnosed with an adnexal mass each year. OvaWatch provides a negative predictive value of
Our in-development test pipeline will expand our ovarian cancer portfolio and address the need for non-invasive diagnostics for endometriosis, a debilitating disease that impacts millions of women worldwide. In ovarian cancer, we intend to combine microRNA and protein biomarkers with patient data to further enhance the sensitivity and specificity of our current tests and expand the indicated population to screen women with a family history of ovarian cancer or a germline mutation. Through our ongoing endometriosis development program, we are combining microRNA and protein biomarkers with patient data, with the intent of identifying endometriosis independent of disease location or severity.
Forward-Looking Statements
This 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 development pipeline and other statements that are predictive in nature, and whether the marketing of the OvaSuite portfolio will prove successful. 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," and other words of similar meaning and the use of future dates. These and additional risks and uncertainties are described more fully in the Company's filings with the Securities and Exchange Commission (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:
Jamie Sullivan
jsullivan@aspirawh.com
SOURCE: Aspira Women's Health
View the original press release on ACCESS Newswire
FAQ
What are the key terms of AWH's $1.37M convertible notes private placement?
How will Aspira Women's Health use the proceeds from the $1.37M private placement?
What is the conversion price for AWH's new convertible notes?
When can AWH force conversion of the new convertible notes?
