Daré Bioscience prices $6M direct offering at $1.37 per share

Daré Bioscience, Inc. (Nasdaq: DARE) announced a registered direct offering of 4,379,581 shares of common stock, or pre-funded warrants in lieu thereof, priced at $1.37 per share, expected to raise $6.0 million in gross proceeds before placement agent fees and other offering expenses.

The offering is priced at-the-market under Nasdaq rules and was made to institutional investors through a definitive securities purchase agreement. Pre-funded warrants carry an exercise price of $0.0001 per share and expire upon full exercise.

Concurrent with the registered direct offering, the company will issue Series A and Series B warrants in a private placement, each covering up to 4,379,581 shares of common stock. Both warrant series carry an exercise price of $1.37 per share and require stockholder approval before they become exercisable. Series A warrants have a five-year term from the initial exercise date, while Series B warrants carry a two-year term.

The closing of both the registered direct offering and the concurrent private placement is expected to occur on or about Aug. 17, 2026, subject to customary closing conditions. Ladenburg Thalmann & Co. Inc. is acting as exclusive placement agent for the offerings.

The shares being offered are registered under a shelf registration statement on Form S-3 declared effective by the SEC on May 10, 2024. The Series A and Series B warrants are being issued under Section 4(a)(2) of the Securities Act of 1933 and have not been registered under federal or state securities laws.

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