SenesTech exercises warrants for $1.1M in gross proceeds

SenesTech (SNES) announced the entry into definitive agreements for the immediate exercise of certain outstanding warrants to purchase an aggregate of 374,718 shares of the company’s common stock originally issued by the company on August 23, 2024, each having an original exercise price of $4.35 per share, at a reduced exercise price of $2.90 per share. In addition, the company will issue new short-term warrants. The closing of the warrant exercise transaction is expected to occur on or about March 11, subject to Stockholder Approval and satisfaction of customary closing conditions. H.C. Wainwright is acting as the exclusive placement agent for the transaction. The aggregate gross proceeds from the exercise of the existing warrants are expected to be approximately $1.1M, before deducting placement agent fees and other offering expenses payable by the company. The potential gross proceeds from the new short-term warrants, if fully exercised on a cash basis, will be approximately $4.3M.