SenesTech Announces Closing of Warrant Exercise for $2.1 Million in Gross Proceeds

About this update from Senestech, Inc.

[{"type":"text","content":"Isolate Bait System™ Now Shipping\nPHOENIX, Aug. 29, 2023 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES, \"SenesTech\" or the \"Company\"), (www.senestech.com) the rodent fertility control experts and inventors of the only EPA registered contraceptive for male and female rats, announced today the closing of its previously announced exercise of certain existing warrants to purchase 2,934,575 shares of its common stock at a reduced exercise price of $0.7202 per share. In addition, the Company issued new warrants, as described below. The aggregate gross proceeds from the exercise of the existing warrants were approximately $2.1 million, before deducting placement agent fees and other offering expenses payable by the Company.\n\n \n \n \n \n \n \n\n \nH.C. Wainwright acted as the exclusive placement agent for this transaction.\nThe Company expects to use the net proceeds from the transaction for working capital and general corporate purposes, including rolling out the Company's Isolate Bait System as well as launching its new soft bait product.\nThe resale or issuance, as applicable, of the shares of common stock underlying the existing warrants have been registered pursuant to an effective registration statement.\nAs consideration for the exercise of such existing warrants for cash, the Company issued new unregistered warrants to purchase shares of common stock in a private placement. The new warrants are exercisable for up to an aggregate of 5,869,150 shares of common stock at an exercise price of $0.7202 per share, with the term of such new warrants to begin on the date of stockholder approval, or if it is determined that such stockholder approval is not required by the applicable rules and regulations of the Nasdaq Capital Market, on the date of issuance until either the five year or thirteen-month anniversary of the date of stockholder approval or the date of issuance, as applicable.\nThe new warrants offered have not been registered under the Securities Act of 1933, as amended, or under applicable state securities laws. Accordingly, the new warrants and shares of common stock issuable upon the exercise of the new warrants may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirements of the Securities Act and such applicable s...

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