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Aspira Women's Health Offers $1.9M in Stock Through Private Placement

NEW YORK – Aspira Women's Health said Monday that it has entered a securities purchase agreement with certain existing shareholders to sell 1,264,739 shares of common stock and warrants to purchase an equal number of shares of common stock through a private placement.

Under the agreement, dated June 30, the company has offered the shares and warrants at a combined price of $1.53 per share and expects gross proceeds of roughly $1.9 million. The warrants will be exercisable for three years after they are issued at a price of $2.25 per share.

Aspira said it plans to use the proceeds from the offering to support ongoing commercial activities and for 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," Aspira CEO Nicole Sandford said in a statement. "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."

OvaSuite is Aspira's portfolio of blood tests intended for assessing the risk of ovarian cancer in women with adnexal masses.

The offering is expected to close on July 8, subject to customary closing conditions.