SenesTech, Inc. (SNES) Announces $10 Million Private Placement Priced At-the-Market

January 27, 2021 9:31 AM EST
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SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary, next generation technologies for managing animal pest populations through fertility control, today announced that it has entered into securities purchase agreements with certain institutional and accredited investors to raise approximately $10 million through the issuance of an aggregate of 4,388,854 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 2,194,427 shares of common stock, at a purchase price of $2.2785 per share of common stock (or common stock equivalent in lieu thereof) and associated warrant in a private placement priced at-the-market under Nasdaq rules. The closing of the private placement is expected to occur on or about January 29, 2021, subject to the satisfaction of customary closing conditions.

H.C. Wainwright & Co., LLC acted as the exclusive placement agent for the offering.

The warrants have an exercise price of $2.216 per share, are exercisable immediately and have a term of five and one-half years.

The Company intends to use the net proceeds for general corporate purposes.



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