Business
SenesTech, Inc. Announces $3.95 Million Registered Direct Offering of Common Stock Priced At-the-Market under Nasdaq Rules
PHOENIX, March 19, 2021 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary, next generation technologies for managing animal pest
About this update from Senestech, Inc.
[{"type":"text","content":"PHOENIX, March 19, 2021 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary, next generation technologies for managing animal pest populations through fertility control, today announced that it has entered into securities purchase agreements with several institutional investors for the purchase and sale of 1,975,000 shares of its common stock at a purchase price of $2.00 per share for gross proceeds of $3.95 million, in a registered direct offering priced at-the-market under Nasdaq rules. The offering is expected to close on or about March 23, 2021, subject to satisfaction of customary closing conditions.\n\n \n \n \n \n \n \n\n \nSenesTech intends to use net proceeds from the registered direct offering for working capital and general corporate purposes.\nH.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.\nA shelf registration statement on Form S-3 (File No. 333-225712) relating to the registered direct offering of the shares of common stock described above was filed with the Securities and Exchange Commission (\"SEC\") and was declared effective on August 24, 2018. The offering of the shares of common stock is being made only by means of a prospectus supplement and accompanying prospectus that forms a part of the registration statement. Electronic copies of the final prospectus supplement and the accompanying prospectus will be filed with the SEC and may be obtained, when available, from H.C. Wainwright & Co., LLC, 430 Park Avenue, 3rd Floor, New York, NY 10022, by calling (646) 975-6996 or by emailing [email protected] or at the SEC's website at http://www.sec.gov.\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 state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.\nAbout SenesTech\nSenesTech is changing the model for pest management by targeting one of the root causes of the problem: reproduction.\nContraPest® is an innovative technology with an approach that targets the reproductive capabilities of both sexes in rat populations, inducing egg loss in female rats and impairing sperm development in males. Using a proprietary bait delivery meth...