Minerva Surgical, Inc. announced that it has entered into a Share Purchase Agreement as part of a private placement with returning investor, Accelmed Partners II LP managed by Accelmed Partners, the company agreed to sell 97,751,711 shares of the company?s common stock, par value $0.001 per share at a purchase price of $0.2046 per share for the gross proceeds of $20 million before deducting offering expenses on September 28, 2023. The transaction is expected to close on or before October 31, 2023, subject to the satisfaction of the closing conditions. The company and purchaser also have agreed to enter into a Registration Rights Agreement at closing.

Under the terms of the Registration Rights Agreement, the company will be obligated to register the shares for resale within 30 days of closing.