Business Context and Reporting Period
Daré Bioscience, Inc. filed this Form 8-K on August 24, 2018, to report the entry into a material definitive agreement. The company is an emerging growth company incorporated in Delaware.
Key Financial Metrics
This filing does not report standard financial performance metrics such as revenue, profit, cash flow, or margins. The only financial data disclosed relates to a specific capital raising activity:
- ATM Offering Proceeds to Date: Approximately $1.1 million gross proceeds from the sale of 375,000 shares under the original sales agreement.
- Remaining Capacity (Prior Registration): Up to $10.0 million total capacity under the original agreement.
- New Capacity (Amended Agreement): Up to $4.1 million of shares authorized for sale under the new registration statement once effective.
Material Changes
The primary material change is the amendment to the Common Stock Sales Agreement dated January 4, 2018, with H.C. Wainwright & Co., LLC. The amendment shifts the "at-the-market" (ATM) offering from the prior shelf registration statement (File No. 333-206396) to a new shelf registration statement (File No. 333-227019). The amendment becomes effective upon the effectiveness of the new registration statement.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on operational outlook, or discussion of specific risks beyond standard legal disclaimers. The document notes that no offer to sell shares is made in jurisdictions where such an offer would be unlawful prior to registration. The filing explicitly states that the description of the agreement is qualified by reference to the full text of the documents filed as exhibits.
Investor Verification Checklist
- Verify the effective date of the new shelf registration statement (File No. 333-227019) to confirm when the amended sales agreement becomes active.
- Review the full text of Amendment No. 1 to the Common Stock Sales Agreement (Exhibit 10.2) for specific terms regarding the $4.1 million offering limit.
- Confirm the current status of the prior registration statement (File No. 333-206396) to understand the transition period for share sales.