[8-K] FEMASYS INC Reports Material Event

Rhea-AI Filing Summary

Femasys Inc. updated its Nasdaq listing status. The company previously fell below Nasdaq’s $35.0 million Market Value of Listed Securities threshold, but now believes it satisfies an alternative standard. Based on pro forma data reflecting its underwritten offering and subsequent warrant exercises, Femasys estimates stockholders’ equity was approximately $5.2 million as of October 15, 2025, exceeding Nasdaq’s $2.5 million minimum for continued listing.

Nasdaq will continue to monitor compliance. If the next periodic report does not evidence the stockholders’ equity requirement, the company may be subject to delisting. The earlier financing included common stock, pre-funded warrants and warrants with gross proceeds of $8.0 million.

Insights

Listing standards and capital markets analyst

Pro forma equity clears Nasdaq’s $2.5M bar; monitoring continues.

Femasys reports pro forma stockholders’ equity of $5.2 million as of October 15, 2025, after an underwritten offering and warrant exercises. That exceeds Nasdaq Capital Market’s alternative stockholders’ equity minimum of $2.5 million, addressing one path to continued listing despite an earlier MVLS deficiency.

Actual compliance depends on figures shown in the company’s next periodic report, as Nasdaq will review ongoing satisfaction of the equity standard. The prior MVLS shortfall ($35.0 million minimum) remains a separate benchmark that can also determine eligibility.

The company cites gross proceeds of $8.0 million from the August 27, 2025 offering as a driver of the pro forma equity. Subsequent filings will show whether reported equity aligns with the pro forma level and whether listing compliance is maintained.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): October 20, 2025

Femasys Inc.

(Exact name of Registrant as specified in its charter)

Delaware	001-40492	11-3713499
(State or Other Jurisdiction of Incorporation or Organization)	(Commission File Number)	(I.R.S. Employer Identification No.)

3950 Johns Creek Court, Suite 100

Suwanee, GA 30024

(770) 500-3910

(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrant’s Principal Executive Offices)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.001 per share	FEMY	NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.

As previously disclosed, on May 19, 2025, the Femasys Inc. (the “Company”) received a written notice (the “Notice”) from The Nasdaq Stock Market LLC (“Nasdaq”) that for the last 30 consecutive business days, the Market Value of Listed Securities (“MVLS”) for the Company’s common stock had been below the minimum $35.0 million requirement for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(b)(2) (the “Minimum MVLS Requirement”). Additionally, the Company had not met either of the alternative Nasdaq continued listing standards under Nasdaq Listing Rule 5550(b)(2): (i) stockholders’ equity of at least $2.5 million or (ii) net income of $500,000 in the most recently completed fiscal year, or in two of the three most recently completed fiscal years.

The Company believes that, after taking into account the previously disclosed underwritten offering of common stock, pre-funded warrants and warrants with gross proceeds of $8.0 million as further detailed in a Form 8-K filed on August 27, 2025 and subsequent warrant exercises, and based on pro forma financial data available to the Company, the Company’s stockholders’ equity as of October 15, 2025 would have been approximately $5.2 million on a pro forma basis, which meets the minimum of $2.5 million in stockholders’ equity requirement for continued listing on The Nasdaq Capital Market.  Nasdaq will continue to monitor the Company’s ongoing compliance with the stockholders’ equity requirement and, if at the time of its next periodic report, the Company does not evidence compliance, it may be subject to delisting.

Safe Harbor Statement

This Current Report on Form 8-K contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, including statements related to the Company’s belief that its stockholders’ equity following consummation of the transactions described above exceeded $2.5 million. The words “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing” and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. While the Company believes its plans, intentions and expectations reflected in those forward-looking statements are reasonable, these plans, intentions or expectations may not be achieved. The Company’s actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements. For information about the factors that could cause such differences, please refer to the Company’s periodic and other filings with the SEC. Given these uncertainties, you should not place undue reliance on these forward-looking statements. The Company assumes no obligation to update any forward-looking statement.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit		Description
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Femasys Inc.
	By:	/s/ Kathy Lee-Sepsick

Names: Kathy Lee-Sepsick

Title: Chief Executive Officer

Date: October 21, 2025

FAQ

What listing update did Femasys (FEMY) provide?

Femasys believes pro forma stockholders’ equity was approximately $5.2 million as of October 15, 2025, exceeding Nasdaq’s $2.5 million equity requirement.

Why was Femasys at risk of non-compliance with Nasdaq rules?

Its Market Value of Listed Securities had been below the $35.0 million minimum for 30 consecutive business days.

What financing contributed to Femasys’ pro forma equity?

An underwritten offering of common stock, pre-funded warrants and warrants with gross proceeds of $8.0 million, plus subsequent warrant exercises.

Is Femasys definitively in compliance now?

Nasdaq will monitor compliance; if the next periodic report does not evidence the equity requirement, Femasys may be subject to delisting.

Which alternative Nasdaq standards are relevant to Femasys?

Stockholders’ equity of at least $2.5 million or net income of $500,000 in the most recent year or two of the last three years.

What date anchors Femasys’ equity estimate?

The pro forma stockholders’ equity estimate of $5.2 million is as of October 15, 2025.