Summary by Moomoo AI
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
