Dare Bioscience, Inc. Announces Closing of Regulation A Offering

Key Points from the Latest 8-K Filing

• Company: Daré Bioscience, Inc. (Nasdaq: DARE)
• Event: Closing of a Regulation A offering of equity securities
• Date of Reported Event: April 10, 2026
• Date of Filing: April 13, 2026
• Offering Details: Up to 4,854,000 Investor Units, each consisting of one share of Series A Convertible Preferred Stock and two warrants to purchase common stock, at \$5.00 per unit
• Units Issued at Closing: 3,470 Investor Units (equivalent to 3,470 shares of Series A Preferred Stock and warrants to purchase up to 6,940 shares of common stock)
• Securities Offered: Unregistered sale under Regulation A
• Issuer: Not an emerging growth company
• Exchange: Nasdaq Capital Market, Symbol: DARE

Detailed Article for Investors

Daré Bioscience, Inc. (Nasdaq: DARE) has completed a significant milestone by closing a previously announced Regulation A offering. The offering, which was officially closed on April 10, 2026, involved the sale of up to 4,854,000 Investor Units to investors. Each unit was priced at \$5.00 and comprised one share of Series A Convertible Preferred Stock and two warrants, each to purchase one share of the company’s common stock.

At the closing, the company issued a total of 3,470 Investor Units. This issuance represents 3,470 shares of Series A Preferred Stock and Investor Warrants to purchase up to 6,940 shares of common stock. The securities were issued in an unregistered sale, relying on Regulation A, and are not currently registered under the Securities Act.

Important Information for Shareholders

• Potential Dilution: If all Series A Preferred Stock is converted and all Investor Warrants are exercised, there will be an increase in the number of outstanding common shares. This could have a dilutive effect on existing shareholders.
• Price Sensitivity: The offering was priced at \$5.00 per unit, which may provide a benchmark for current and future valuations, and the exercise of warrants could introduce additional volatility to the share price as investors may exercise and sell common shares in the open market.
• Regulatory Details: The offering was conducted under a Form 1-A offering statement (File No. 024-12688), which was most recently qualified by the SEC on April 1, 2026. The terms of conversion and exercise for the Series A Preferred Stock and Investor Warrants are detailed in the offering circular and prior 8-K filings.
• Reporting and Transparency: Details about this offering and the resulting securities are incorporated by reference from the January 29, 2026, 8-K filing, which includes the terms of conversion and exercise mechanics for preferred stock and warrants.
• Corporate Structure: The transaction adds a new class of preferred stock (Series A Convertible Preferred) to Daré’s capital structure, which could impact future corporate actions or financing flexibility.

Other Notable Information

• Daré Bioscience is incorporated in Delaware and headquartered in San Diego, California.
• The company’s common stock continues to trade on the Nasdaq Capital Market under the symbol DARE.
• The company is no longer considered an emerging growth company under SEC definitions.
• Sabrina Martucci Johnson continues to serve as President and Chief Executive Officer.

Implications for Investors

The closing of this Regulation A offering is a potentially price-sensitive event for Daré Bioscience shareholders. The issuance of new preferred shares and warrants introduces the risk of dilution to existing common shareholders if those securities are converted or exercised. Moreover, the offering price of \$5.00 per unit may influence investor sentiment regarding company valuation.

Shareholders should monitor future filings for updates on conversions, warrant exercises, and any subsequent impacts on the company’s outstanding share count.

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