SenesTech to receive ~$2.1M from warrant exercise; issues new warrants for 5.9M shares

SenesTech, Inc.

Holder exercises existing warrants for 2,934,575 shares at reduced price $0.7202/share; gross proceeds $2,113,480.92.
Company issues new warrants to purchase up to 5,869,150 shares (200% of exercised shares) at $0.7202, subject to Nasdaq stockholder approval.
Engaged H.C. Wainwright as placement agent; fee of 7.5% of gross proceeds plus management fee and expenses.
Placement agent receives warrants to purchase 146,729 shares at $0.9003 per share.
Company expects to use proceeds for general corporate purposes; closing expected August 24, 2023.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

SenesTech, Inc. entered into Inducement Letter with a certain holder of certain of our existing warrants valued at $2,113,480.92 (effective 2023-08-21).

Action: entry
Agreement: equity purchase
Counterparty: a certain holder of certain of our existing warrants
Value: $2,113,480.92
Effective: 2023-08-21

Exact text from the filing

On August 21, 2023, we entered into an inducement offer letter agreement (the “Inducement Letter”) with a certain holder (the “Holder”) of certain of our existing warrants

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SenesTech, Inc. filing history →

Source: SEC EDGAR

accession 0001628280-23-030170

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