SenesTech Announces $1.42 Million Registered Direct Offering

About this update from Senestech, Inc.

[{"type":"text","content":"PHOENIX, Jan. 24, 2020 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, today announced that it has entered into definitive agreements with several institutional and accredited investors for the purchase and sale in a registered direct offering of 3,550,000 shares of SenesTech's common stock, at a purchase price of $0.40 per share, for gross proceeds of $1.42 million. SenesTech has also agreed to issue to the investors unregistered warrants to purchase up to an aggregate of 3,550,000 shares of common stock. The closing of the offering is expected to occur on or about January 28, 2020, subject to the satisfaction of customary closing conditions.\n\n \n \n\n \nH.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.\nThe warrants have an exercise price of $0.45 per share of common stock, will be exercisable commencing six months following the date of issuance and will expire five and one-half years following the date of issuance.\nSenesTech currently intends to use the net proceeds from the offering for working capital and other general corporate purposes. \nThe shares of common stock (but not the warrants or the shares of common stock underlying the warrants) are being offered by SenesTech pursuant to a \"shelf\" registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the \"SEC\") on August 14, 2018 and declared effective by the SEC on August 24, 2018. A prospectus supplement and accompanying prospectus relating to the shares of common stock being offered will be filed with the SEC. Electronic copies of the prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC's website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (646) 975-6996 or e-mail at [email protected].\nThe warrants described above were offered in a private placement under Section 4(a)(2) of the Securities Act of 1933, as amended (the \"Act\"), and Regulation D promulgated thereunder and, along with the shares of common stock underlying the warrants, have not been registered under the Act, or applicable state securities laws. Accordingly, the warrants and underlying shares of comm...

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