PHOENIX, April 12,
2023 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES,
"SenesTech" or the "Company") (www.senestech.com), the rodent
fertility control experts and inventors of the only EPA registered
contraceptive for male and female rats, ContraPest®, today
announced the closing of its previously announced registered direct
offering of 857,146 shares of its common stock, at a purchase price
of $1.75 per share, priced
at-the-market under Nasdaq rules. The Company also issued in a
concurrent private placement unregistered Series C warrants (the
"Series C Warrants") to purchase up to an aggregate of 857,146
shares of common stock. The Series C Warrants have an exercise
price of $1.62 per share, are
immediately exercisable upon issuance, and will expire five and
one-half years from the date of issuance.
H.C. Wainwright & Co. acted as the exclusive placement agent
for the offering.
The gross proceeds to the Company from the offering were
approximately $1.5 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.
The securities described above (excluding the Series C Warrants
and the shares of common stock underlying the Series C Warrants)
were offered and sold by the Company in a registered direct
offering pursuant to a "shelf" registration statement on Form S-3
(File No. 333-261227) that was originally filed with the Securities
and Exchange Commission (the "SEC") on November 19, 2021, and declared effective on
May 6, 2022. The offering of such
securities in the registered direct offering was made only by means
of a prospectus supplement that forms a part of the effective
registration statement. A final prospectus supplement and the
accompanying base prospectus relating to the registered direct
offering were filed with the SEC and are available on the SEC's
website at www.sec.gov. Electronic copies of the final prospectus
supplement and the accompanying base prospectus may also be
obtained from 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.
The Series C Warrants described above were offered in a private
placement under Section 4(a)(2) of the Securities Act of 1933, as
amended (the "Act"), and Regulation D promulgated thereunder and,
along with the shares of common stock underlying such warrants,
have not been registered under the Act, or applicable state
securities laws. Accordingly, the Series C Warrants and the
underlying shares of common stock may not be offered or sold in
the United States except pursuant
to an effective registration statement or an applicable exemption
from the registration requirements of the Act and such applicable
state securities laws.
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 the experts in rat fertility control. Our passion is to
create a healthy environment by better controlling rat pest
populations. We keep an inescapable truth in mind. Two rats and
their descendants can be responsible for the birth of up to 15,000
pups after a year. We invented ContraPest, the only U.S. EPA
registered contraceptive for male and female rats. ContraPest fits
seamlessly into all integrated pest management programs, greatly
improving the overall goal of effective rat management. We strive
for clean cities, efficient businesses, and happy households – with
a product that was designed to be effective and sustainable without
killing rats. At SenesTech, we are committed to improving the
health of the world by humanely managing animal populations through
fertility control.
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, the impacts and implications of
the COVID-19 pandemic, the successful commercialization of our
products, market acceptance of our products, regulatory approval
and regulation of our products and other factors and risks
identified from time to time in our filings with the 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, Joe Dorame, Joe Diaz,
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.