PHOENIX, Nov. 27,
2023 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES,
"SenesTech" or the "Company"), (www.senestech.com) the leader in
fertility control to manage animal pest populations, today
announced the pricing of a public offering of 3,846,154 shares of
its common stock (or pre-funded 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") at a combined offering price of $1.30 per share of common stock (or pre-funded
warrant in lieu thereof) and associated Series Warrants. The Series
Warrants have an exercise price of $1.30 per share and will be
immediately exercisable upon issuance. The Series D Warrants
will expire five years following the initial exercise date, and the
Series E Warrants will expire eighteen months following the
initial exercise date. The closing of the offering is expected to
occur on or about November 30, 2023,
subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offering.
The gross proceeds to the Company from the offering are expected
to be approximately $5.0 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, which
may include research and development expenses, capital
expenditures, working capital and general and administrative
expenses, and potential acquisitions of or investments in
businesses, products and technologies that complement the Company's
business.
The securities described above are being offered pursuant to a
registration statement on Form S-1 (File No. 333-273370) originally
filed with the Securities and Exchange Commission ("SEC") on
July 21, 2023, as amended, and became
effective on November 27, 2023. The
public offering is being made only by means of a prospectus, which
forms a part of the effective registration statement. When
available, electronic copies of the final prospectus may be
obtained for free on the SEC's website located at
http://www.sec.gov and may also be obtained, when available, by
contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd
Floor, New York, NY 10022, by
phone at (212) 856-5711 or e-mail at placements@hcwco.com.
This press release shall not constitute an offer to sell or a
solicitation of an offer to buy any of the securities described
herein, nor shall there be any sale of these securities in any
state or other jurisdiction in which such offer, solicitation or
sale would be unlawful prior to the registration or qualification
under the securities laws of any such state or other
jurisdiction.
About SenesTech
We are committed to improving the
health of the world by humanely managing animal pest populations
through fertility control. We are experts in fertility control to
manage animal pest populations. We 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. We strive for clean
cities, efficient businesses and happy households – with a product
designed to be humane, effective and sustainable.
For more information visit https://senestech.com/ and
https://contrapeststore.com.
Safe Harbor Statement
This press release contains
"forward-looking statements" within the meaning of federal
securities laws, and we intend that such forward-looking statements
be subject to the safe harbor created thereby. Such forward-looking
statements include, among others, the expected closing date of the
public offering, the expected gross proceeds to the Company from
the offering and the intended use of proceeds therefrom.
Forward-looking statements may describe future expectations, plans,
results, or strategies and are often, but not always, made through
the use of words such as "believe," "may," "future," "plan,"
"will," "should," "expect," "anticipate," "eventually," "project,"
"estimate," "continuing," "intend" and similar words or phrases.
You are cautioned that such statements are subject to risks,
uncertainties and other factors that could cause actual results to
differ materially from those reflected by such forward-looking
statements. Such factors include, among others, market and other
conditions; the satisfaction of customary closing conditions
related to the public offering; the successful commercialization of
our products; market acceptance of our products; our financial
performance, including our ability to fund operations; our ability
to regain and maintain compliance with Nasdaq's continued listing
requirements; and regulatory approval and regulation of our
products and other factors and risks identified from time to time
in our filings with the U.S. Securities and Exchange Commission,
including our Annual Report on Form 10-K for the fiscal year ended
December 31, 2022. All
forward-looking statements contained in this press release speak
only as of the date on which they were made and are based on
management's assumptions and estimates as of such date. Except as
required by law, we do not undertake any obligation to publicly
update any forward-looking statements, whether as a result of the
receipt of new information, the occurrence of future events or
otherwise.
CONTACT:
Investors: Robert Blum, Lytham Partners,
LLC, 602-889-9700, senestech@lythampartners.com
Company: Tom Chesterman, Chief Financial Officer, SenesTech,
Inc., 928-779-4143
View original content to download
multimedia:https://www.prnewswire.com/news-releases/senestech-inc-announces-pricing-of-5-0-million-public-offering-301998448.html
SOURCE SenesTech, Inc.