FLAGSTAFF, Ariz., July 17, 2019 /PRNewswire/ -- SenesTech,
Inc. (Nasdaq: SNES), a developer of proprietary technologies for
managing animal pest populations through fertility control, today
announced that it has closed the public offering of common stock,
as was announced on Thursday, July 11,
2019, with gross proceeds of $4.1
million.
The offering was common stock only and did not include dilutive
warrants. The proceeds allow the Company to fully engage in sales
and marketing efforts in California and other target markets.
The Company also announced that CEO Ken
Siegel and other insiders anchored the offering by
purchasing over $1 million of the
offered common stock.
H.C. Wainwright & Co. acted as the exclusive placement agent
for the offering.
The shares were issued 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. The final prospectus supplement describing the terms
of the offering was filed with the SEC on July 15, 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 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,
timing and size of the proposed 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 proposed 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.