SenesTech Inc, the trailblazer in fertility control solutions for managing animal pest populations, has announced the pricing details of its eagerly anticipated public offering. The company has made public its plan to offer 3,846,154 shares of common stock, along with accompanying Series D warrants for the purchase of up to 3,846,154 shares of common stock and Series E warrants for up to 3,846,154 shares of common stock. The combined offering, priced at $1.30 per share of common stock and associated Series Warrants, is poised to shape the future landscape of the company and the industry as a whole.
The Series Warrants carry an exercise price of $1.30 per share and will be immediately exercisable upon issuance. Additionally, the Series D Warrants are set to expire five years after the initial exercise date, while the Series E Warrants will have an expiration period of eighteen months following the initial exercise date. The closing of this strategic offering is expected to take place on or about November 30, 2023, pending the fulfillment of customary closing conditions.
The market’s response to this development was evident in SenesTech’s stock performance. The company’s shares, which concluded Monday at $1.88, saw a significant adjustment as trading commenced at $1.15, and the current market value stands at $1.06.
At the time of this publication, Senestech Inc stock (SNES) has witnessed a decline.
Senestech Inc
Current Price: $1.02
Change : -0.86
Change (%): (-45.74%)
Volume: 806.0K
Source: Tomorrow Events Market Data
H.C. Wainwright & Co. has been entrusted with the role of exclusive placement agent for this groundbreaking offering.
SenesTech anticipates gross proceeds of approximately $5.0 million from the offering, prior to deducting fees from the placement agent and other associated offering expenses. These funds are earmarked for various general corporate purposes, including research and development expenses, capital expenditures, working capital, general and administrative expenses, and potential acquisitions or investments in businesses, products, and technologies that align with SenesTech’s core objectives.
The securities involved in this offering are offered in accordance with a registration statement on Form S-1 (File No. 333-273370), initially filed with the Securities and Exchange Commission (SEC) on July 21, 2023. After amendments, the registration statement became effective on November 27, 2023. This move reflects SenesTech’s commitment to transparency and regulatory compliance in its financial endeavors.
SenesTech, stands at the forefront of innovation, leveraging fertility control solutions to revolutionize the management of animal pest populations. As the public offering unfolds, SenesTech anticipates a strategic injection of capital to further its mission and solidify its position as a leader in the industry. The closing of the offering on November 30, 2023, is poised to mark a significant milestone in SenesTech’s trajectory of growth and impact.
