PHOENIX, Nov. 29,
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 closing of its previously announced 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 are 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.
H.C. Wainwright & Co. acted as the exclusive placement agent
for the offering.
The gross proceeds to the Company from the offering were
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 were 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 was made only by means of a prospectus, which forms
a part of the effective registration statement. 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 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 intended use of proceeds from
the offering. 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 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
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SOURCE SenesTech, Inc.