SenesTech expects $6.1M in gross proceeds from rights offering
SenesTech announced that the subscription period for the company's rights offering expired on August 8 and the rights distributed in the Rights Offering are no longer exercisable. The company estimates that the Rights Offering will result in approximately $6.1M in gross proceeds. SenesTech expects the Rights Offering will close on or about August 14. Each right entitled the holder to purchase one unit, at a subscription price of $1.15 per unit. Each unit consisted of one share of the company's common stock and one warrant. Each warrant is exercisable to purchase one share of the company's common stock at an exercise price of $1.15 per share from the date issuance until its expiration 5 years from the date of issuance.