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AUSTIN, Texas, July 1, 2020 — Aspira Women’s Health Inc. (Nasdaq: AWH) (“ASPIRA”), a bioanalytical-based women’s health company focused on gynecologic disease, today announced that investors, including certain affiliates of Jack W. Schuler, ASPIRA’s largest stockholder, have agreed to purchase approximately $11 million of unregistered shares of ASPIRA's common stock in a private placement at a price of $3.50 per share.
The closing of the private placement is expected to occur on July 6, 2020, subject to customary closing conditions. At the closing, ASPIRA will receive approximately $11 million in gross proceeds, before transaction costs. ASPIRA intends to use the net proceeds from the private placement for sales and marketing, working capital and other general corporate purposes, including investing in additional key strategic hires and product portfolio expansion. This press release is for informational purposes only and shall not constitute an offer to sell or a solicitation of an offer to buy securities. The securities to be sold in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or any state securities laws, and may not be offered or sold in the United States absent registration, or an applicable exemption from registration under the Securities Act and applicable state securities laws.