SenesTech, Inc. (SNES) Announces Pricing of $5 Million Public Offering of Common Stock, Warrants

SenesTech, Inc. (Nasdaq: SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, today announced the pricing of its public offering of 1,574,308 units. Each unit is comprised of one share of common stock (or common stock equivalent) and one warrant to purchase one share of common stock. The units are being offered at a public offering price of $3.176 per unit priced at-the-market under Nasdaq rules.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.

The warrants will be exercisable immediately at an exercise price of $3.05 per share of common stock and will expire on the five year anniversary of the date of issuance.

The gross proceeds of the offering are expected to be $5.0 million, before deducting the placement agent's fees and other estimated offering expenses payable by the company, assuming none of the warrants to be issued in the offering are exercised. The offering is expected to close on or about April 24, 2020, subject to the satisfaction of customary closing conditions.

SenesTech intends to use the net proceeds from the offering for working capital and general corporate purposes, including its commercialization efforts of ContraPest.

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