NetworkNewsBreaks — SenesTech Inc. (NASDAQ: SNES
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Posted On: 11/28/2023 3:57:23 PM
NetworkNewsBreaks — SenesTech Inc. (NASDAQ: SNES) Announces Soft Bait Fertility Solution in California Ace Hardware Stores, Prices Public Offering
SenesTech (NASDAQ: SNES), the leader in fertility control to manage animal pest populations, has launched its Evolve(TM) Soft Bait product at Ace Hardware franchise locations in California; the franchise also began selling SenesTech’s Isolate(TM) bait system. According to the announcement, this is the first time a traditional retail store has carried SenesTech rodent fertility control solutions. Evolve is the first and only soft bait product featuring breakthrough, next-generation technology designed to decrease rodent populations through nonlethal methods. “California-based Scarborough Ace Hardware, as well as Scarborough Home and Garden, are the first retail outlets to commit to SenesTech’s line,” said SenesTech president and CEO Joel Fruendt in the press release. “They will also be among the first in the U.S. to receive shipments of Evolve based on their recent preorder. We expect the penetration of retail and big box to rapidly accelerate, especially with the launch of Evolve and its retail-friendly soft bait profile and packaging. Evolve was developed to offer customers a soft bait product that has similar efficacy to ContraPest but in a format that is easier to deploy, and is ideally suited for use by do it yourself consumers. We are pleased to be partnering with the team at Scarborough Ace Hardware to provide their customers with an innovative solution to address their rodent issues.”
In addition, SenesTech also announced the pricing of its public offering. According to the announcement, the offering is 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 offering is at a combined price of $1.30 per share of common stock (or prefunded warrant in lieu thereof) and associated series warrants. The announcement noted that the series warrants, which will be immediately exercisable upon issuance, have an exercise price of $1.30 per share. Series D warrants will expire five years following the initial exercise date with Series E warrants set to expire 18 months following the initial exercise date. The public offering should close on or about Nov. 30, 2023, and is subject to customary closing conditions. Gross proceeds from the offering are anticipated to total an estimated $5 million before standard agent’s fees and other offering expenses are deducted. 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.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
SenesTech (NASDAQ: SNES), the leader in fertility control to manage animal pest populations, has launched its Evolve(TM) Soft Bait product at Ace Hardware franchise locations in California; the franchise also began selling SenesTech’s Isolate(TM) bait system. According to the announcement, this is the first time a traditional retail store has carried SenesTech rodent fertility control solutions. Evolve is the first and only soft bait product featuring breakthrough, next-generation technology designed to decrease rodent populations through nonlethal methods. “California-based Scarborough Ace Hardware, as well as Scarborough Home and Garden, are the first retail outlets to commit to SenesTech’s line,” said SenesTech president and CEO Joel Fruendt in the press release. “They will also be among the first in the U.S. to receive shipments of Evolve based on their recent preorder. We expect the penetration of retail and big box to rapidly accelerate, especially with the launch of Evolve and its retail-friendly soft bait profile and packaging. Evolve was developed to offer customers a soft bait product that has similar efficacy to ContraPest but in a format that is easier to deploy, and is ideally suited for use by do it yourself consumers. We are pleased to be partnering with the team at Scarborough Ace Hardware to provide their customers with an innovative solution to address their rodent issues.”
In addition, SenesTech also announced the pricing of its public offering. According to the announcement, the offering is 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 offering is at a combined price of $1.30 per share of common stock (or prefunded warrant in lieu thereof) and associated series warrants. The announcement noted that the series warrants, which will be immediately exercisable upon issuance, have an exercise price of $1.30 per share. Series D warrants will expire five years following the initial exercise date with Series E warrants set to expire 18 months following the initial exercise date. The public offering should close on or about Nov. 30, 2023, and is subject to customary closing conditions. Gross proceeds from the offering are anticipated to total an estimated $5 million before standard agent’s fees and other offering expenses are deducted. 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.
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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