SenesTech raises $1.5M in registered direct offering of 857,146 shares at $1.75 plus warrants

SenesTech, Inc.

Sold 857,146 shares and Series C warrants for gross proceeds of ~$1.5M; offering closed April 12, 2023.
Series C warrants exercisable at $1.62/share, immediately exercisable, 5.5-year term; cashless exercise option if registration not effective.
Placement agent H.C. Wainwright received 7.5% cash fee, 1% management fee, and warrants for 64,286 shares at $2.1875.
Net proceeds to be used for general corporate purposes; offering priced at-the-market under Nasdaq rules.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

SenesTech, Inc. entered into Securities Purchase Agreement with H.C. Wainwright & Co., LLC valued at aggregate proceeds of approximately $1.5 million; 857,146 shares of common stock at $1.75 per share (effective 2023-04-10).

Action: entry
Agreement: equity purchase
Counterparty: H.C. Wainwright & Co., LLC
Value: aggregate proceeds of approximately $1.5 million; 857,146 shares of common stock at $1.75 per share
Effective: 2023-04-10

Exact text from the filing

On April 10, 2023, we entered into a Securities Purchase Agreement (the “Purchase Agreement”), pursuant to which we agreed to sell and issue in a registered direct offering (the “Registered Direct Offering”) an aggregate of 857,146 shares of our common stock (the “Shares”) and, in a concurrent private placement (the “Private Placement” and together with the Registered Direct Offering, the “Offerings”), unregistered warrants to purchase up to 857,146 shares of common stock (“Series C Warrants”), at an offering price of $1.75 per Share and associated Series C Warrant.

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SenesTech, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-23-029094

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