SenesTech, Inc. Announces Pricing of $5 Million Public Offering

About this update from Senestech, Inc.

[{"type":"text","content":"PHOENIX, Nov. 16, 2022 /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, ContraPest®, today announced the pricing of a public offering of up to 1,428,572 shares of its common stock (or pre-funded warrants in lieu thereof), Series A warrants to purchase up to 1,428,572 shares of its common stock (\"Series A Warrants\"), and Series B warrants to purchase up to 1,428,572 shares of its common stock (\"Series B Warrants\", together with Series A Warrants, collectively the \"Series Warrants\"), at an offering price to the public of $3.50 per share (or pre-funded warrant in lieu thereof) and associated Series Warrants. The Series A Warrants will have an exercise price of $3.165 per share, are exercisable immediately upon issuance, and will expire five years following the date of issuance. The Series B Warrants will have an exercise price of $3.165 per share, are exercisable immediately upon issuance, and will expire thirteen months following the date of issuance. The closing of the offering is expected to occur on or about November 18, 2022, subject to the satisfaction of customary closing conditions.\n\n \n \n \n \n \n \n\n \nH.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.\nThe gross proceeds to the Company from the offering are expected to be approximately $5 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.\nThe Company also has agreed that certain existing warrants to purchase up to an aggregate of (i) 27,430 shares of common stock at an exercise price of $44.32 and an expiration date of July 29, 2026 and (ii) 85,034 shares of common stock at an exercise price of $34.50 and an expiration date of April 27, 2026 will be amended effective upon the closing of the offering so that the amended warrants will have a reduced exercise price of $3.165 per share and will expire five years following the closing of the offering.\nThe securities described above are being offered pursuant to a registration statement on Form S-1 (File No. 333-267991) originally filed with the Securities and Exchange C...

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