<SEC-DOCUMENT>0001193125-22-163068.txt : 20220531
<SEC-HEADER>0001193125-22-163068.hdr.sgml : 20220531
<ACCEPTANCE-DATETIME>20220531075500
ACCESSION NUMBER:		0001193125-22-163068
CONFORMED SUBMISSION TYPE:	SC14D9C
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20220531
DATE AS OF CHANGE:		20220531

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TherapeuticsMD, Inc.
		CENTRAL INDEX KEY:			0000025743
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				870233535
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC14D9C
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-32384
		FILM NUMBER:		22980506

	BUSINESS ADDRESS:	
		STREET 1:		951 YAMATO ROAD, SUITE 220
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33431
		BUSINESS PHONE:		561-961-1900

	MAIL ADDRESS:	
		STREET 1:		951 YAMATO ROAD, SUITE 220
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33431

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMHN, Inc.
		DATE OF NAME CHANGE:	20090930

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CROFF ENTERPRISES INC
		DATE OF NAME CHANGE:	19970915

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CROFF OIL CO
		DATE OF NAME CHANGE:	19920703

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			TherapeuticsMD, Inc.
		CENTRAL INDEX KEY:			0000025743
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		IRS NUMBER:				870233535
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SC14D9C

	BUSINESS ADDRESS:	
		STREET 1:		951 YAMATO ROAD, SUITE 220
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33431
		BUSINESS PHONE:		561-961-1900

	MAIL ADDRESS:	
		STREET 1:		951 YAMATO ROAD, SUITE 220
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33431

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	AMHN, Inc.
		DATE OF NAME CHANGE:	20090930

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CROFF ENTERPRISES INC
		DATE OF NAME CHANGE:	19970915

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	CROFF OIL CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC14D9C
<SEQUENCE>1
<FILENAME>d335475dsc14d9c.htm
<DESCRIPTION>SC14D9C
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<HTML><HEAD>
<TITLE>SC14D9C</TITLE>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P> <P STYLE="margin-top:4pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>UNITED STATES </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SECURITIES AND EXCHANGE COMMISSION </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>Washington, D.C. 20549 </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:18pt; font-family:Times New Roman" ALIGN="center"><B>SCHEDULE <FONT
STYLE="white-space:nowrap">14D-9</FONT> </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>(Rule <FONT STYLE="white-space:nowrap">14d-101)</FONT> </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>SOLICITATION/RECOMMENDATION STATEMENT </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:12pt; font-family:Times New Roman" ALIGN="center"><B>UNDER SECTION 14(d)(4) OF THE SECURITIES EXCHANGE ACT OF 1934 </B></P>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>TherapeuticsMD, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Subject Company) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:24pt; font-family:Times New Roman" ALIGN="center"><B>TherapeuticsMD, Inc. </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>(Name of Person(s) Filing Statement) </B></P> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center>
<P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>COMMON STOCK,
PAR VALUE $0.001 PER SHARE </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Title of Class&nbsp;of Securities) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>88338N 10 7 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(CUSIP
Number of Class&nbsp;of Securities) </B></P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Hugh O&#146;Dowd </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Chief Executive Officer </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TherapeuticsMD, Inc. </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>951
Yamato Road, Suite 220 </B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Boca Raton, FL 33431 </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Telephone: (561) <FONT STYLE="white-space:nowrap">961-1900</FONT> </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:8pt; font-family:Times New Roman" ALIGN="center"><B>on Behalf of the Person(s) Filing Statement) </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B><I>With copies to: </I></B></P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE CELLSPACING="0" CELLPADDING="0" WIDTH="100%" BORDER="0" STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" ALIGN="center">


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<TD WIDTH="50%"></TD>

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<TD WIDTH="48%"></TD></TR>


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<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Marlan Walker</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>General Counsel</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TherapeuticsMD, Inc.</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>951
Yamato Road, Suite 220</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Boca Raton, FL 33431</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Telephone: (561) <FONT STYLE="white-space:nowrap">961-1900</FONT></B></P></TD>
<TD VALIGN="bottom">&nbsp;</TD>
<TD VALIGN="top" ALIGN="center"> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Joshua M. Samek, Esq.</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>J.A. Glaccum, Esq.</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>DLA
Piper LLP (US)</B></P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>200 South Biscayne Boulevard, Suite 2500</B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Miami, Florida 33131</B></P>
<P STYLE="margin-top:0pt; margin-bottom:1pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Telephone: (305) <FONT STYLE="white-space:nowrap">423-8500</FONT></B></P></TD></TR>
</TABLE> <P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P><center> <P STYLE="line-height:6.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1.00pt solid #000000;width:21%">&nbsp;</P></center>
<P STYLE="font-size:12pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
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<TR style = "page-break-inside:avoid">
<TD WIDTH="4%" VALIGN="top" ALIGN="left">&#9746;</TD>
<TD ALIGN="left" VALIGN="top"> <P STYLE=" margin-top:0pt ; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman; " ALIGN="left">Check the box if the filing relates solely to preliminary communications made before the commencement of a
tender offer. </P></TD></TR></TABLE> <P STYLE="font-size:10pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P> <P STYLE="line-height:1.0pt;margin-top:0pt;margin-bottom:0pt;border-bottom:1px solid #000000">&nbsp;</P>
<P STYLE="line-height:3.0pt;margin-top:0pt;margin-bottom:2pt;border-bottom:1px solid #000000">&nbsp;</P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Schedule <FONT STYLE="white-space:nowrap">14D-9</FONT> filing relates solely to preliminary
communications made before the commencement of a planned tender offer (the &#147;Offer&#148;) by Athene Merger Sub, Inc. (&#147;Merger Sub&#148;), a wholly owned subsidiary of Athene Parent, Inc. (&#147;Parent&#148;), for all of the outstanding
shares of common stock, par value $0.001 per share of TherapeuticsMD, Inc. (the &#147;Company&#148;), to be commenced pursuant to the Agreement and Plan of Merger, dated May&nbsp;27, 2022, among the Company, Parent, and Merger Sub (the &#147;Merger
Agreement&#148;). If successful, the Offer will be followed by a merger of Merger Sub with and into the Company (the &#147;Merger&#148;). </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">This Schedule <FONT
STYLE="white-space:nowrap">14D-9</FONT> filing consists of the following documents relating to the proposed Offer and Merger: </P> <P STYLE="font-size:6pt;margin-top:0pt;margin-bottom:0pt">&nbsp;</P>
<TABLE STYLE="BORDER-COLLAPSE:COLLAPSE; font-family:Times New Roman; font-size:10pt" BORDER="0" CELLPADDING="0" CELLSPACING="0" WIDTH="100%">
<TR style = "page-break-inside:avoid">
<TD WIDTH="5%">&nbsp;</TD>
<TD WIDTH="3%" VALIGN="top" ALIGN="left">&#149;</TD>
<TD WIDTH="1%" VALIGN="top">&nbsp;</TD>
<TD ALIGN="left" VALIGN="top"> <P ALIGN="left" STYLE=" margin-top:0pt ; margin-bottom:0pt; font-family:Times New Roman; font-size:10pt"><A HREF="d335475dex991.htm">Exhibit 99.1: Joint Press Release, dated May&nbsp;31, 2022 </A>
</P></TD></TR></TABLE> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cautionary Notes Regarding Forward Looking Statements </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain statements in this communication, including, without limitation, statements regarding the proposed transaction, plans and objectives, and
management&#146;s beliefs, expectations or opinions, may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to future, not past, events and often
address expected future actions and expected future business and financial performance. Forward-looking statements may be identified by the use of words such as &#147;believe,&#148; &#147;will,&#148; &#147;should,&#148; &#147;estimate,&#148;
&#147;anticipate,&#148; &#147;potential,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;may,&#148; &#147;subject to,&#148; &#147;continue,&#148; &#147;if&#148; and similar words and phrases. These forward-looking statements
are not guarantees of future events and involve risks, uncertainties and assumptions that are difficult to predict. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Actual results, developments and
business decisions may differ materially from those expressed or implied in any forward-looking statements as a result of numerous factors, risks and uncertainties over which the Company or EW Healthcare Partners, as applicable, have no control.
These factors, risks and uncertainties include, but are not limited to, the following: (1)&nbsp;the conditions to the completion of the proposed transaction may not be satisfied, including uncertainties as to how many of the Company&#146;s
stockholders will tender their shares in the tender offer and the possibility that if the transaction does not close by July&nbsp;13, 2022, or the Company is unable to satisfy the minimum qualified cash covenant under the Company&#146;s Financing
Agreement, it will constitute an event of default under the Company&#146;s Financing Agreement and the Company may not continue as a going concern; (2)&nbsp;the parties&#146; ability to complete the proposed transaction contemplated by the Merger
Agreement in the anticipated timeframe or at all; (3)&nbsp;the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction agreement between the parties to the proposed transaction (including that
if the transaction agreement is terminated it is an event of default under the Company&#146;s Financing Agreement and the Company may not continue as a going concern); (4) the effect of the announcement or pendency of the proposed transaction on
business relationships, operating results, and business generally; (5)&nbsp;risks that the proposed transaction disrupts current plans and operations and potential difficulties in employee retention as a result of the proposed transaction;
(6)&nbsp;risks related to diverting management&#146;s attention from ongoing business operations; (7)&nbsp;the outcome of any legal proceedings that may be instituted related to the proposed transaction or the transaction agreement between the
parties to the proposed transaction; (8)&nbsp;the amount of the costs, fees, expenses and other charges related to the proposed transaction; (9)&nbsp;the risk that competing offers or acquisition proposals will be made; (10)&nbsp;general economic
conditions, particularly those in the life science and medical device industries; (11)&nbsp;stock trading prices, including the impact of the proposed transaction on the Company&#146;s stock price and the corresponding impact that failure to close
the proposed transaction would be expected to have on the Company&#146;s stock price, particularly in relation to the Company&#146;s current and future capital needs and its ability to raise additional funds to finance its future operations in the
event the proposed transaction does not close; (12)&nbsp;the participation of third parties in the consummation of the proposed transaction; and (13)&nbsp;other factors discussed from time to time in the reports of the Company filed with the
Securities and Exchange Commission (the &#147;SEC&#148;), including the risks and uncertainties contained in the sections titled &#147;Risk Factors&#148; and &#147;Cautionary Note Regarding Forward-Looking Statements&#148; in the Company&#146;s most
recent Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as filed with the SEC on March&nbsp;23, 2022, and related sections in the Company&#146;s subsequent Quarterly Reports on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> and
Current Reports on Form <FONT STYLE="white-space:nowrap">8-K,</FONT> all of which are available free of charge at http://www.sec.gov or under the &#147;Investors&nbsp;&amp; Media&#148; section on the Company&#146;s website at www.therapeuticsmd.com.
</P>
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Forward-looking statements reflect the views and assumptions of management as of the date of this
communication with respect to future events. The Company does not undertake, and hereby disclaims, any obligation, unless required to do so by applicable laws, to update any forward-looking statements as a result of new information, future events or
other factors. The inclusion of any statement in this communication does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional Information about the Transaction and Where to Find It </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The tender offer has not yet commenced. This communication is neither an offer to buy nor a solicitation of an offer to sell any securities of the Company, nor
is it a recommendation by the Company, its management or Board of Directors that any investors sell or otherwise tender any securities of the Company in connection with the transactions described elsewhere in this communication. The solicitation and
the offer to buy shares of the Company&#146;s common stock will only be made pursuant to a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and other related materials that an affiliate of EW Healthcare
Partners intends to file with the SEC. In addition, the Company will file with the SEC a Recommendation Statement on Schedule <FONT STYLE="white-space:nowrap">14D-9</FONT> with respect to the tender offer. Once filed, investors will be able to
obtain the tender statement on Schedule TO, the offer to purchase, the Recommendation Statement of the Company on Schedule <FONT STYLE="white-space:nowrap">14D-9</FONT> and related materials filed with the SEC with respect to the tender offer and
the merger, free of charge at the website of the SEC at www.sec.gov or from the information agent named in the tender offer materials. Investors may also obtain, at no charge, the documents filed with or furnished to the SEC by the Company under the
&#147;Investors&nbsp;&amp; Media&#148; section of the Company&#146;s website at www.therapeuticsmd.com. Investors are advised to read these documents when they become available, including the Recommendation Statement of the Company and any
amendments thereto, as well as any other documents relating to the tender offer and the merger that are filed with the SEC, carefully and in their entirety prior to making any decisions with respect to whether to tender their shares in the tender
offer because such documents contain important information, including the terms and conditions of the tender offer. </P>
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<FILENAME>d335475dex991.htm
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<Center><DIV STYLE="width:8.5in" align="left">
 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="right"><B>Exhibit 99.1 </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>TherapeuticsMD and EW Healthcare Partners </B></P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman" ALIGN="center"><B>Announce Definitive Agreement for EW Healthcare Partners to acquire TherapeuticsMD </B></P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>BOCA RATON, Fla.</B><B></B><B>&nbsp;&#150; May</B><B></B><B>&nbsp;31, 2022</B> &#151; TherapeuticsMD, Inc. (NASDAQ: TXMD) (&#147;TherapeuticsMD,&#148;
&#147;TXMD&#148; or the &#147;Company&#148;), an innovative, leading women&#146;s healthcare company, today announced that it has entered into a definitive merger agreement to be acquired by an affiliate of EW Healthcare Partners, a private equity
firm dedicated to making investments in rapidly growing healthcare companies.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the terms of the transaction, which has been unanimously approved by
TXMD&#146;s board of directors, EW Healthcare Partners will commence a tender offer to acquire all outstanding shares of TXMD common stock for $10.00 per share in an <FONT STYLE="white-space:nowrap">all-cash</FONT> transaction, followed immediately
by a merger. The purchase price represents a premium of 367.3% over TherapeuticsMD&#146;s closing share price on May&nbsp;27, 2022. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are very
pleased to enter into this agreement with EW Healthcare Partners,&#148; stated Hugh O&#146;Dowd, Chief Executive Officer of TherapeuticsMD. &#147;Together, we will continue empowering women of all ages through a therapeutic focus in family planning,
reproductive health, and menopause management. We have a deep appreciation for EW Healthcare Partners&#146;s depth of expertise and track record and know they will bring an incredible value of knowledge and strategic guidance.&#148;</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">EW Healthcare Partners is one of the largest and oldest private healthcare investment firms with over $4B of capital raised since its inception. EW Healthcare
Partners has made investments in over 150 rapidly growing healthcare companies in the pharmaceutical, medical device, diagnostics, and technology-enabled services sectors in the United States and in Europe.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We are pleased to welcome TherapeuticsMD to the EW Healthcare Partners portfolio and are deeply committed to the Company&#146;s mission of advancing
women&#146;s health. EW Healthcare Partners has already made a significant investment in women&#146;s health through its acquisition of Majorelle. TherapeuticsMD represents a unique opportunity for Majorelle to enter the US market and is a perfect
fit with our ambitious plans to create a fast-growing, premier trans-Atlantic women&#146;s health platform. We bring an extensive network and capital to fund the further growth of the combined company.&#148; said Evis Hursever, Managing Director at
EW Healthcare Partners.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">&#147;We look forward to working together with the company&#146;s management team to enhance the patient experience, improve
operational efficiency and create one of a very few trans-Atlantic specialty pharma companies dedicated to women&#146;s health,&#148; said Olivier Bohuon, Senior Adviser with EW Healthcare Partners and Chairman of Majorelle. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Transaction Details </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The transaction, which has been
unanimously approved by TherapeuticsMD&#146;s Board of Directors, implies a total enterprise value for the Company of approximately $177&nbsp;million and will be structured as an <FONT STYLE="white-space:nowrap">all-cash</FONT> tender offer to
acquire all issued and outstanding shares of TherapeuticsMD common stock, followed immediately by a merger. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Under the terms of the agreement, an affiliate of EW Healthcare Partners will commence a tender offer to
acquire all issued and outstanding shares of TherapeuticsMD common stock at a price of $10.00 per share.&nbsp;The tender offer will initially remain open for 20 business days from the date of commencement of the tender offer, subject to extension
under certain circumstances. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The price represents a 367.3% premium over TherapeuticsMD&#146;s closing share price of $2.14 on May&nbsp;27, 2022 and a
premium of 211.8% to TherapeuticsMD&#146;s <FONT STYLE="white-space:nowrap">30-day</FONT> volume weighted average share price on May&nbsp;27, 2022.</P>
<P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Following a successful completion of the tender offer, including meeting certain conditions, the EW Healthcare Partners affiliate will acquire all remaining
untendered shares of TherapeuticsMD common stock at the same price of $10.00 per share through a second step merger. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">In connection with entering into the
transaction, the lenders and administrative agent under the Company&#146;s Financing Agreement with Sixth Street Partners have agreed to extend the maturity date of the Financing Agreement to July&nbsp;13, 2022, allowing the Company to complete the
transaction with EW Healthcare Partners on or before that date. In addition, the lenders and administrative agent have agreed to roll-over the Company&#146;s indebtedness under the Financing Agreement in connection with, and conditioned on, the
closing of the merger.</P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Closing of the tender offer and merger are subject to certain conditions, including that a majority of the shares of
TherapeuticsMD&#146;s common stock are tendered and not withdrawn in the tender offer, that there is no default or event of default under the Company&#146;s Financing Agreement, and other customary closing conditions. Upon completion of the
transaction, TherapeuticsMD will become a privately held company and shares of TherapeuticsMD&#146;s common stock will no longer be listed on any public market. The parties anticipate that the combination will be completed on or before July&nbsp;13,
2022. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Advisors </B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Greenhill&nbsp;&amp; Co., LLC is
serving as financial advisor and DLA Piper LLP (US) is serving as legal counsel to TherapeuticsMD. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">EW Healthcare Partners was advised by
Kirkland&nbsp;&amp; Ellis (Legal), PwC (financial and tax) and BCG (commercial). </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About&nbsp;TherapeuticsMD, Inc. </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TherapeuticsMD, Inc.&nbsp;is an innovative, leading healthcare company, focused on developing and commercializing novel products exclusively for women.
TherapeuticsMD&#146;s products are designed to address the unique changes and challenges women experience through the various stages of their lives with a therapeutic focus in family planning, reproductive health, and menopause
management.&nbsp;TherapeuticsMD&nbsp;is committed to advancing the health of women and championing awareness of their healthcare issues. To learn more about&nbsp;TherapeuticsMD, please visit&nbsp;https://www.therapeuticsmd.com/ or follow us on
Twitter: @TherapeuticsMD and on Facebook:&nbsp;TherapeuticsMD. </P>
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>About EW Healthcare Partners (&#147;EW&#148;) </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">With over $4&nbsp;billion raised since inception, EW Healthcare Partners is one of the largest and oldest private healthcare investment firms and seeks to make
growth equity investments in fast growing commercial-stage healthcare companies in the pharmaceutical, medical device, diagnostics, and technology-enabled services sectors in the United States and in Europe. Since its founding in 1985, EW Healthcare
Partners has maintained its singular commitment to the healthcare industry and has been a long-term investor in over 150 healthcare companies, ranging across sectors, stages and geographies. The team is comprised of over 20 senior investment
professionals with offices in New York, Houston and London. https://www.ewhealthcare.com/ </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Cautionary Notes Regarding Forward Looking Statements
</B></P> <P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Certain statements in this communication, including, without limitation, statements regarding the proposed transaction, plans and objectives, and
management&#146;s beliefs, expectations or opinions, may contain forward-looking information within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relate to future, not past, events and often
address expected future actions and expected future business and financial performance. Forward-looking statements may be identified by the use of words such as &#147;believe,&#148; &#147;will,&#148; &#147;should,&#148; &#147;estimate,&#148;
&#147;anticipate&#148;, &#147;potential,&#148; &#147;expect,&#148; &#147;intend,&#148; &#147;plan,&#148; &#147;may,&#148; &#147;subject to,&#148; &#147;continues,&#148; &#147;if&#148; and similar words and phrases. These forward-looking statements
are not guarantees of future events and involve risks, uncertainties and assumptions that are difficult to predict. </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Actual results, developments and
business decisions may differ materially from those expressed or implied in any forward-looking statements as a result of numerous factors, risks and uncertainties over which the Company or EW Healthcare Partners, as applicable, have no control.
These factors, risks and uncertainties include, but are not limited to, the following: (1)&nbsp;the conditions to the completion of the proposed transaction may not be satisfied, including uncertainties as to how many of the Company&#146;s
stockholders will tender their shares in the tender offer and the possibility that if the transaction does not close by July&nbsp;13, 2022, or the Company is unable to satisfy the minimum qualified cash covenant under the Company&#146;s Financing
Agreement, it will constitute an event of default under the Company&#146;s Financing Agreement and the Company may not continue as a going concern; (2)&nbsp;the parties&#146; ability to complete the proposed transaction contemplated by the Merger
Agreement in the anticipated timeframe or at all; (3)&nbsp;the occurrence of any event, change or other circumstance that could give rise to the termination of the transaction agreement between the parties to the proposed transaction (including that
if the transaction agreement is terminated it is an event of default under the Company&#146;s Financing Agreement and the Company may not continue as a going concern); (4) the effect of the announcement or pendency of the proposed transaction on
business relationships, operating results, and business generally; (5)&nbsp;risks that the proposed transaction disrupts current plans and operations and potential difficulties in employee retention as a result of the proposed transaction;
(6)&nbsp;risks related to diverting management&#146;s attention from ongoing business operations; (7)&nbsp;the outcome of any legal proceedings that may be instituted related to the proposed transaction or the transaction agreement between the
parties to the proposed transaction; (8)&nbsp;the amount of the costs, fees, expenses and other charges related to the proposed transaction; (9)&nbsp;the risk that competing offers or acquisition proposals will be made; (10)&nbsp;general economic
conditions, particularly those in the life science and medical device industries; (11)&nbsp;stock trading prices, including the impact of the proposed transaction on the Company&#146;s stock price and the corresponding impact that failure to close
the proposed transaction would be expected to have on the Company&#146;s stock price, particularly in relation to the Company&#146;s current and future capital needs and its ability to raise additional funds to finance its future operations in the
event the proposed transaction does not close; (12)&nbsp;the participation of third parties in the consummation of the proposed transaction; and (13)&nbsp;other factors discussed from time to time in the reports of the Company filed with the
Securities and Exchange Commission (the &#147;SEC&#148;), including the risks and uncertainties contained in the sections titled &#147;Risk Factors&#148; and &#147;Cautionary Note Regarding Forward-Looking Statements&#148; in the Company&#146;s most
recent Annual Report on Form <FONT STYLE="white-space:nowrap">10-K,</FONT> as filed with the SEC on March&nbsp;23, 2022, and related sections in the Company&#146;s subsequent Quarterly Reports on Form <FONT STYLE="white-space:nowrap">10-Q</FONT> and
Current Reports on Form <FONT STYLE="white-space:nowrap">8-K,</FONT> all of which are available free of charge at http://www.sec.gov or under the &#147;Investors&nbsp;&amp; Media&#148; section on the Company&#146;s website at www.therapeuticsmd.com.
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 <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Forward-looking statements reflect the views and assumptions of management as of the date of this
communication with respect to future events. The Company does not undertake, and hereby disclaims, any obligation, unless required to do so by applicable laws, to update any forward-looking statements as a result of new information, future events or
other factors. The inclusion of any statement in this communication does not constitute an admission by the Company or any other person that the events or circumstances described in such statement are material. </P>
<P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Additional Information about the Transaction and Where to Find It </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">The tender offer has not yet commenced. This communication is neither an offer to buy nor a solicitation of an offer to sell any securities of the Company, nor
is it a recommendation by the Company, its management or Board of Directors that any investors sell or otherwise tender any securities of the Company in connection with the transactions described elsewhere in this communication. The solicitation and
the offer to buy shares of the Company&#146;s common stock will only be made pursuant to a tender offer statement on Schedule TO, including an offer to purchase, a letter of transmittal and other related materials that an affiliate of EW Healthcare
Partners intends to file with the SEC. In addition, the Company will file with the SEC a Recommendation Statement on Schedule <FONT STYLE="white-space:nowrap">14D-9</FONT> with respect to the tender offer. Once filed, investors will be able to
obtain the tender statement on Schedule TO, the offer to purchase, the Recommendation Statement of the Company on Schedule <FONT STYLE="white-space:nowrap">14D-9</FONT> and related materials filed with the SEC with respect to the tender offer and
the merger, free of charge at the website of the SEC at www.sec.gov or from the information agent named in the tender offer materials. Investors may also obtain, at no charge, the documents filed with or furnished to the SEC by the Company under the
&#147;Investors&nbsp;&amp; Media&#148; section of the Company&#146;s website at www.therapeuticsmd.com. Investors are advised to read these documents when they become available, including the Recommendation Statement of the Company and any
amendments thereto, as well as any other documents relating to the tender offer and the merger that are filed with the SEC, carefully and in their entirety prior to making any decisions with respect to whether to tender their shares in the tender
offer because such documents contain important information, including the terms and conditions of the tender offer. </P> <P STYLE="margin-top:18pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><B>Contact </B></P>
<P STYLE="margin-top:6pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">For TherapeuticsMD: </P> <P STYLE="margin-top:12pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">Lisa M. Wilson </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap">In-Site</FONT> Communications, Inc. </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">212-452-2793</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">lwilson@insitecony.com </P> <P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">TherapeuticsMD </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman"><FONT STYLE="white-space:nowrap"><FONT STYLE="white-space:nowrap">561-961-1900</FONT></FONT> </P>
<P STYLE="margin-top:0pt; margin-bottom:0pt; font-size:10pt; font-family:Times New Roman">IR@TherapeuticsMD.com </P>
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