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SNES: SenesTech to raise $1.42 million (gross) through a direct sale of stock. Estimates adjusted accordingly.

·1 min read

By Ian Gilson, PhD, CFA

NASDAQ:SNES

READ THE FULL SNES RESEARCH REPORT

SenesTech (NASDAQ:SNES) has announced that it will raise $1.42 million gross (about $1.28 net) from the sale of 3.55 million shares at $0.40 and the issuance of 3.55 million warrants at an exercise price of $0.45 that would not be registered at this time. The deal should close by the end of January 2020.

We have adjusted our estimates by adding the new shares to calculate future earnings. Since share equivalents, like warrants, are not used when calculating losses per share, only the basic share count is used, we have not included any adding any warrant conversion.

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