On August 22, 2024, SenesTech, Inc., a biotechnology company based in Phoenix, Arizona, entered into a material definitive agreement with certain holders of its existing warrants. The agreement involves the inducement offer letter agreement, which allows the holders to exercise their existing warrants for purchasing 505,502 shares of SenesTech's common stock at a reduced price of $4.60 per share. In return, SenesTech will issue new warrants for the purchase of up to 1,011,004 shares at $4.35 per share. The transaction is expected to generate gross proceeds of approximately $2.3 million for SenesTech, before deducting fees and expenses, including a 7.5% cash fee to the exclusive placement agent, H.C. Wainwright & Co., LLC. The closing of the transactions is anticipated to occur on or about August 23, 2024, subject to...Show More

On August 22, 2024, SenesTech, Inc., a biotechnology company based in Phoenix, Arizona, entered into a material definitive agreement with certain holders of its existing warrants. The agreement involves the inducement offer letter agreement, which allows the holders to exercise their existing warrants for purchasing 505,502 shares of SenesTech's common stock at a reduced price of $4.60 per share. In return, SenesTech will issue new warrants for the purchase of up to 1,011,004 shares at $4.35 per share. The transaction is expected to generate gross proceeds of approximately $2.3 million for SenesTech, before deducting fees and expenses, including a 7.5% cash fee to the exclusive placement agent, H.C. Wainwright & Co., LLC. The closing of the transactions is anticipated to occur on or about August 23, 2024, subject to customary closing conditions. The net proceeds are intended for working capital and general corporate purposes. The shares of common stock underlying the existing warrants have been registered with the SEC, and SenesTech has committed to filing a registration statement for the resale of the new warrant shares. The new warrants will be immediately exercisable and will expire five years from the date of issuance, with certain adjustments and conditions outlined in the agreement. The placement agent will also receive warrants to purchase additional shares of common stock at a higher exercise price of $5.75 per share.