NetworkNewsBreaks — SenesTech Inc. (NASDAQ: SNES

NetworkNewsBreaks — SenesTech Inc. (NASDAQ: SNES) Closes on Public Offering Resulting in Gross Proceeds of $5M

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.

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