Exhibit 99.1
TherapeuticsMD Announces $7 Million Private Placement
Maturity Date of Financing Agreement Extended to October 31, 2022, with the Ability to Extend to November 30, 2022, if Additional Capital is Raised
BOCA RATON, Fla. – October 3, 2022 – TherapeuticsMD, Inc. (NASDAQ: TXMD), (“TherapeuticsMD” or the “Company”) an innovative, leading women’s healthcare company, announced today that it received a $7 million private investment in the Company’s Series A Preferred Stock from Rubric Capital Management LP (“Rubric”). TherapeuticsMD expects to use the proceeds from the transaction for working capital.
Under the terms of the Company’s financing agreement with its lender, Sixth Street Specialty Lending, Inc. (“Sixth Street”), upon receipt of the investment and the delivery to Sixth Street of warrants to acquire 125,000 shares of the Company’s common stock at an exercise price of $0.01 per share, the maturity date of the financing agreement was automatically extended until October 31, 2022. The Company has the option to further extend the maturity date until November 30, 2022, if it receives additional equity capital of $7 million.
The Company’s Board of Directors and management team continue its active strategic alternatives process to strengthen the Company’s long-term financial position.
About TherapeuticsMD, Inc.
TherapeuticsMD, Inc. is an innovative, leading healthcare company, focused on developing and commercializing novel products exclusively for women. TherapeuticsMD’s products are designed to address the unique changes and challenges women experience through the various stages of their lives with a therapeutic focus in family planning, reproductive health, and menopause management. TherapeuticsMD is committed to advancing the health of women and championing awareness of their healthcare issues. To learn more about TherapeuticsMD, please visit https://www.therapeuticsmd.com/ or follow us on Twitter: @TherapeuticsMD and on Facebook: TherapeuticsMD.
Cautionary Notes Regarding Forward Looking Statements
This press release contains forward-looking statements. Forward-looking statements may include, but are not limited to, statements relating to the Company’s objectives, plans and strategies as well as statements, other than historical facts, that address activities, events or developments that the company intends, expects, projects, believes or anticipates will or may occur in the future. These statements are often characterized by terminology such as “believes,” “hopes,” “may,” “anticipates,” “should,” “intends,” “plans,” “will,” “expects,” “estimates,” “projects,” “positioned,” “strategy” and similar expressions and are based on assumptions and assessments made in light of management’s experience and perception of historical trends, current conditions, expected future developments and other factors believed to be appropriate. Forward-looking statements in this press release are made as of the date of this press release, and the Company undertakes no duty to update or revise any such statements, whether as a result of new information, future events or otherwise. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of which are outside of the Company’s control. Important factors that could cause actual results, developments and business decisions to differ materially from forward-looking statements are
