SURPRISE, Ariz., Aug. 5, 2025 /PRNewswire/ — SenesTech, Inc. (NASDAQ: SNES), the biotech firm pioneering fertility control solutions for animal pest management, announced today it has closed a warrant exercise that generated $6.3 million in gross proceeds. The move sees the company leverage existing warrants to fortify its balance sheet.
The transaction, orchestrated by H.C. Wainwright as the exclusive placement agent, involved the exercise of 1,458,872 shares of common stock initially issued on July 1, 2025, at a strike price of $4.15 per share.
SenesTech, in turn, sweetened the deal for investors by issuing new, unregistered short-term warrants. These warrants, priced at $0.125 apiece, allow the purchase of up to 2,188,308 shares of common stock at an exercise price of $5.25 per share. This private placement was strategically priced “at-the-market” under Nasdaq rules. The new warrants are immediately exercisable but carry a fifteen-month expiration timeline following the resale registration statement’s effective date. Essentially, SenesTech is betting on its future performance, offering investors a limited-time opportunity to capitalize on potential upside.
While the initial warrant exercise and new warrant issuance brought in approximately $6.3 million, the potential upside from full exercise of the new warrants could reach $11.5 million. However, SenesTech is tempering expectations, stating there’s “no assurance” these new warrants will be fully exercised. The company intends to channel the net proceeds into working capital and general corporate initiatives, signaling a focus on growth and operational efficiency.
The company has already registered the resale of shares from the existing warrants through an effective Form S-3 registration statement (File No. 333-288638).
It’s important to note that the new short-term warrants haven’t been registered under the Securities Act of 1933, or applicable state securities laws. This means they, and the underlying shares, can’t be offered or sold within the United States absent an effective registration statement or a relevant exemption.
This announcement isn’t an offering to sell or solicit a buy of these securities in any jurisdiction where it would be unlawful.
About SenesTech
SenesTech is making a calculated play in the burgeoning market for humane pest control. The company’s focus? Fertility control. Their flagship product, ContraPest®, is the only U.S. EPA-registered contraceptive for both male and female rats. Complementing this are Evolve™ Rat and Evolve™ Mouse, deemed minimum-risk contraceptives by the EPA. SenesTech’s approach aims for sustainable, proactive pest management, fitting into integrated pest management schemes. The company has its sights set on cleaner urban environments, more efficient businesses, and happier homes, all achieved through humane and ecologically-sound methods.
For more information, visit https://senestech.com.
Safe Harbor Statement
This communication includes forward-looking statements within the definition of federal securities regulations. These statements, subject to the established safe harbor guidelines, concern the intended use of proceeds and the potential exercise of the new short-term warrants. While these statements reflect future expectations, plans, or strategies, they are inherently subject to risks, uncertainties, and various factors that could materially alter actual outcomes. These risks encompass market conditions, successful product commercialization, regulatory approvals, and those detailed in SenesTech filings with the Securities and Exchange Commission, including the Annual Report on Form 10-K for the fiscal year ended December 31, 2024. Management emphasizes the date of these statements and disclaims any obligation to update them publicly, except when mandated by law.
SOURCE SenesTech, Inc.
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