SenesTech raises $6.3 million through warrant exercise and new issuance

SenesTech Inc. (NASDAQ: SNES) announced the exercise of outstanding warrants for 1,458,872 shares at $4.15 per share, generating approximately $6.3 million in gross proceeds before fees and expenses.

The fertility control company entered into definitive agreements for the immediate exercise of warrants originally issued on July 1, 2025. The transaction was expected to close on August 5, 2025, subject to customary closing conditions.

As part of the arrangement, SenesTech will issue new short-term warrants to purchase up to 2,188,308 shares at $5.25 per share, priced at $0.125 per warrant in a private placement. These new warrants will be exercisable immediately and expire 15 months after the effective date of the resale registration statement.

If the new short-term warrants are fully exercised on a cash basis, they could generate approximately $11.5 million in additional gross proceeds, though the company noted no assurance can be given that any will be exercised.

H.C. Wainwright served as the exclusive placement agent for the transaction. SenesTech plans to use the net proceeds for working capital and general corporate purposes.

The resale of shares from the existing warrant exercise has been registered under an effective Form S-3 registration statement. The new short-term warrants have not been registered under the Securities Act of 1933 and may only be sold pursuant to an effective registration statement or applicable exemption.

SenesTech develops fertility control products for managing animal pest populations, including ContraPest, an EPA-registered contraceptive for rats, and Evolve products for rodents.

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