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TherapeuticsMD, Inc. Announces $8.5 Million Private Placement

Stocks in this article: TXMD

TherapeuticsMD™, Inc. (OTCQB:TXMD), parent company of vitaMedMD ®, LLC ("vitaMedMD"), a specialty pharmaceutical company ("TherapeuticsMD" or the "Company"), announced today that it entered into a definitive Securities Purchase Agreement with accredited investors covering an aggregate of 3,953,489 shares of the Company’s common stock in a private placement at a purchase price of $2.15 per share, which will result in aggregate gross proceeds to the Company of approximately $8.5 million.

The securities to be issued in the private placement have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and accordingly may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable state and securities laws. The Company has agreed to file a registration statement with the Securities and Exchange Commission registering for resale the shares of common stock to be issued in this private placement.

The Company intends to use the funds from the private placement to fund the pharmacokinetic trials required before it can begin Phase III trials on its three investigational new drugs (“INDs”) that were submitted to the U.S. Food and Drug Administration (“FDA”). These drug development candidates are for menopause symptom relief, and two of the three submitted INDs have been accepted by the FDA. The accepted INDs are for a progestin product and an estrogen product, while the third drug will be a product that is a combination of progestin and estrogen. The Company’s strategy is to begin its Phase III trials as early as the first quarter of 2013.

In the fourth quarter of this year, the Company plans to launch three generic prescription prenatal vitamin products through its wholly-owned subsidiary, BocaGreenMD™, Inc. These prenatal multivitamins are designed to meet the needs of pregnant mothers and women planning to become pregnant.

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