Business
SenesTech Announces Pricing of $5.0 Million Public Offering Priced At-The-Market under Nasdaq Rules
PHOENIX, April 22, 2020 /PRNewswire/ -- SenesTech, Inc. (Nasdaq: SNES), a developer of proprietary technologies for managing animal pest populations through
About this update from Senestech, Inc.
[{"type":"text","content":"PHOENIX, April 22, 2020 /PRNewswire/ -- SenesTech, Inc. (Nasdaq: SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, today announced the pricing of its public offering of 1,574,308 units. Each unit is comprised of one share of common stock (or common stock equivalent) and one warrant to purchase one share of common stock. The units are being offered at a public offering price of $3.176 per unit priced at-the-market under Nasdaq rules.\n\n \n \n \n \n \n \n\n \nH.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.\nThe warrants will be exercisable immediately at an exercise price of $3.05 per share of common stock and will expire on the five year anniversary of the date of issuance.\nThe gross proceeds of the offering are expected to be $5.0 million, before deducting the placement agent's fees and other estimated offering expenses payable by the company, assuming none of the warrants to be issued in the offering are exercised. The offering is expected to close on or about April 24, 2020, subject to the satisfaction of customary closing conditions.\nSenesTech intends to use the net proceeds from the offering for working capital and general corporate purposes, including its commercialization efforts of ContraPest.\nThe registration statement on Form S-1, as amended (File No. 333-236302), relating to these securities was declared effective by the Securities and Exchange Commission (the \"SEC\") on February 14, 2020 and Post-Effective Amendment No. 2 to Form S-1 was declared effective by the SEC on April 21, 2020. The offering is being made only by means of a prospectus forming part of the effective registration statement. A final prospectus relating to the offering will be filed with the SEC and will be available for free by visiting the SEC's website at http://www.sec.gov. Electronic copies of the final prospectus relating to the offering may also be obtained, when available, by contacting H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (646) 975-6996 or by emailing [email protected]. \nThis press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlaw...