SenesTech (NASDAQ: SNES), the leader in fertility control to manage animal pest populations, has closed on its previously announced public offering. According to the announcement, the offering was comprised of 3,846,154 shares of its common stock (or prefunded warrants in lieu thereof) and accompanying Series D warrants to purchase up to 3,846,154 shares of its common stock (Series D warrants) and Series E warrants to purchase up to 3,846,154 shares of its common stock (Series E warrants, together with Series D warrants, collectively the series warrants); the shares were offered at a combined offering price of $1.30 per share. The announcement noted that the series warrants, which have an exercise price of $1.30 per share, are exercisable upon issuance, while the Series D warrants will expire five years following the initial exercise date and the Series E Warrants will expire 18 months following the initial exercise date. Gross proceeds from the offering totaled an estimated $5 million before the deduction of standard fees and offering expenses. SenesTech plans to use the proceeds from the offering for general corporate purposes, including R&D, capital expenditures, working capital and general and administrative expenses, as well as potential acquisitions or investments.
To view the full press release, visit https://ibn.fm/rtvM3
About SenesTech Inc.
SenesTech is committed to improving the health of the world by humanely managing animal pest populations through fertility control. The company is expert in fertility control to manage animal pest populations. SenesTech invented ContraPest, the only U.S. EPA-registered contraceptive for male and female rats, and Evolve, an EPA-designated minimum risk contraceptive currently offered for rats. ContraPest and Evolve fit seamlessly into all integrated pest-management programs, significantly improving the overall goal of effective pest management. The company strives for clean cities, efficient businesses and happy households by providing a product designed to be humane, effective and sustainable. For more information about the company, please visit www.SenesTech.com.
NOTE TO INVESTORS: The latest news and updates relating to SNES are available in the company’s newsroom at https://ibn.fm/SNES
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