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SenesTech, Inc. Announces Closing of $5.0 Million Public Offering
February 21st, 2024
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News & Politics
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5 minute read
SenesTech, Inc. Announces Closing of $5.0 Million Public Offering
PHOENIX/PRNewswire - SenesTech, Inc. (NASDAQ: SNES, "SenesTech" or the "Company"), (www.senestech.com), the leader in fertility control to manage animal pest populations, announced the closing of its previously announced public offering of 3,846,154 shares of its common stock (or pre-funded warrants in lieu thereof) and accompanying Series D warrants to purchase up to 3,846,154 shares of its common stock ("Series D Warrants") and Series E warrants to purchase up to 3,846,154 shares of its common stock ("Series E Warrants," together with Series D Warrants, collectively the "Series Warrants") at a combined offering price of $1.30 per share of common stock (or pre-funded warrant in lieu thereof) and associated Series Warrants. The Series Warrants have an exercise price of $1.30 per share and are immediately exercisable upon issuance. The Series D Warrants will expire five years following the initial exercise date, and the Series E Warrants will expire eighteen months following the initial exercise date.H.C. Wainwright & Co. acted as the exclusive placement agent for the offering.The gross proceeds to the Company from the offering were approximately $5.0 million, before deducting the placement agent's fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from this offering for general corporate purposes, which may include research and development expenses, capital expenditures, working capital and general and administrative expenses, and potential acquisitions of or investments in businesses, products and technologies that complement the Company's business.
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