FLAGSTAFF, Ariz., July 11, 2019 /PRNewswire/ -- SenesTech,
Inc. (Nasdaq: SNES), a developer of proprietary technologies for
managing animal pest populations through fertility control, today
announced the pricing of its previously announced public
offering of 3,037,038 shares of its common stock at a price to the
public of $1.35 per share. SenesTech
expects to receive aggregate gross proceeds of approximately
$4.1 million from the offering. The
offering is expected to close on or about July 16, 2019, subject to customary closing
conditions.
H.C. Wainwright & Co. is acting as the exclusive placement
agent for the offering.
SenesTech intends to use the net proceeds from the offering for
working capital and other general corporate purposes.
The shares of common stock are being offered by SenesTech
pursuant to a "shelf" registration statement on Form S-3
(Registration No. 333-225712) previously filed with and declared
effective by the Securities and Exchange Commission (the "SEC") on
August 24, 2018. A preliminary
prospectus supplement describing the terms of the offering was
filed with the SEC on July 11,
2019, and is available on the SEC's website at
http://www.sec.gov. Electronic copies of the final prospectus
supplement and the accompanying prospectus relating to the offering
may be obtained, when available, from H.C. Wainwright & Co.,
LLC, 430 Park Avenue 3rd Floor, New York,
NY 10022, or by calling (646) 975-6996 or by emailing
placements@hcwco.com or at the SEC's website at
http://www.sec.gov.
This press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to the registration or
qualification under the securities laws of any such jurisdiction.
Any offer, if at all, will be made only by means of the prospectus
supplement and accompanying prospectus forming a part of the
effective registration statement.
About SenesTech
SenesTech has developed and is in
the process of commercializing a proprietary technology for
managing animal pest populations, primarily rat populations,
through fertility control. For more information visit the SenesTech
website at www.senestech.com.
Safe Harbor Statement
This release contains
"forward-looking statements" that involve estimates, assumptions,
risks and uncertainties. Any forward-looking statements describe
future expectations, beliefs, plans, results, objectives,
assumptions or strategies and are generally preceded by words
such as "may," "future," "plan" or "planned," "will," "should,"
"expected," "anticipates," "draft," "continue," "eventually,"
"believes," or "projected." Forward-looking statements include, but
are not limited to, statements regarding the Company's expectations
on the completion and timing of the public offering and the
anticipated use of proceeds therefrom; deployment of the Company's
product; the continuation or expansion of the use of ContraPest;
demand for ContraPest; the Company's confidence in its marketing
and strategy resulting in growth; the Company's continuing to
control cost and improve gross margins and financial results; the
Company's expectations on regulatory developments; and the
Company's execution of its strategic business plan.
Investors should not unduly rely on forward-looking statements.
Such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events, or
results to differ materially from those made in the forward-looking
statements, including risks and uncertainties associated with
market conditions and the satisfaction of customary closing
conditions related to the public offering as well as uncertainties
as result of various factors and other risks, such as market
acceptance and demand for the Company's products, customers
completing order commitments, the Company's ability to reduce costs
and execute on its plans and continuing to believe it is following
the best strategy, the Company having sufficient financing, and
other factors identified in the Company's filings with the
Securities and Exchange Commission, including its annual report on
Form 10-K and quarterly reports filed on Form 10-Q. All
forward-looking statements speak only as of the date on which they
were made based on management's assumptions as of such date. The
Company does not undertake any obligation to update any
forward-looking statements, whether as a result of the receipt of
new information, the occurrence of future events or otherwise,
except as required by law.
For further information: Investors: Robert Blum, Joe
Dorame, Joe Diaz, Lytham
Partners, LLC, 602-889-9700, senestech@lythampartners.com, or
Company: Tom Chesterman, Chief
Financial Officer, SenesTech, Inc., 928-779-4143
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SOURCE SenesTech, Inc.