- SenesTech recently issued new unregistered warrants and closed on an exercise of certain existing warrants, raising approximately $2.3 million in aggregate gross proceeds
- The company plans to use the proceeds of the warrant exercise to continue with its rollout of the Evolve(TM) product line (Evolve Rat and Evolve Mouse), the industry’s only soft bait product line to control rodent populations by restricting fertility
- The company’s Evolve products, controlling rodents through rodent birth control versus poisons, represent safer alternatives to second-generation rodenticides, which threaten numerous species that ingest poisoned rodents, contaminated feces, contaminated soils, and sometimes the poisoned baits themselves
- The U.S. Environmental Protection Agency is expected to come up with tighter regulations on second-generation poisons, positioning SenesTech for continued growth as demand increases
SenesTech (NASDAQ: SNES), the leader in fertility control to manage animal pest populations, recently issued new unregistered warrants to purchase up to an aggregate of 1,011,004 shares of common stock at $4.35 per unit in a private placement. The company also closed on an exercise of certain existing warrants to purchase 505,502 shares of its common stock at a reduced exercise price of $4.60 per unit, raising approximately $2.3 million in aggregate gross proceeds. SenesTech intends to use the net proceeds from this transaction for working capital and general corporate purposes (https://ibn.fm/o12H7).
“In a simple sense, we believe that the proceeds allow us to continue with our rollout of the Evolve(TM) product line. We believe that this financing will enable us to execute these plans,” said…
NOTE TO INVESTORS: The latest news and updates relating to SNES are available in the company’s newsroom at https://ibn.fm/SNES
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