Reported Earlier: SenesTech Announces $4.4M Warrant Exercise At $2.90; Issues 1.46M New Warrants At $4.15 In At-the-Market Private Placement

Author: Benzinga Newsdesk | July 01, 2025 10:03am

SenesTech, Inc. (NASDAQ:SNES, ", SenesTech", or the ", Company", ))), a leader in fertility control for managing animal pest populations, announced today the entry into definitive agreements for the immediate exercise of certain outstanding warrants to purchase an aggregate of 1,458,872 shares of the Company's common stock originally issued by the Company on March 11, 2025, at the existing exercise price of $2.90 per share. The closing of the warrant exercise transaction is expected to occur on or about July 1, 2025, subject to satisfaction of customary closing conditions.

H.C. Wainwright is acting as the exclusive placement agent for the transaction.

As consideration for the exercise of such existing warrants for cash, the Company will issue new unregistered short-term warrants to purchase up to an aggregate of 1,458,872 shares of common stock at an exercise price of $4.15 per share at a purchase price of $0.125 per warrant in a private placement priced at-the-market under Nasdaq rules. The new short-term warrants will be exercisable immediately and will expire fifteen months following the effective date of the resale registration statement registering the shares of common stock issuable upon exercise of the short-term warrants.

The aggregate gross proceeds from the exercise of the existing warrants are expected to be approximately $4.4 million, 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 $6.0 million. No assurance can be given that any of the new short-term warrants will be exercised. The Company expects to use the net proceeds from the transaction for working capital and general corporate purposes.

Posted In: SNES