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.
