SenesTech slumps after discounted stock offering

SenesTech

12/07/2019 12:39

** SenesTech Inc's shares  SNES.O  fall 16.7% to $1.27 in
heavy premarket trading - set to touch a near 4-month low if
losses hold
    ** Second-most actively traded stock premarket across U.S.
exchanges 
    ** Co says it priced an offering of 3 mln common shares at
$1.35/shr, a near 12% discount to its Thursday's close
 urn:newsml:reuters.com:*:nPn4SyjWTa
    ** Expects gross proceeds of about $4.1 mln, which it plans
to use for working capital and other general corporate purposes
    ** Shares being offered represent ~13% of co's free float
shares  
    ** HC Wainwright & Co is the exclusive placement agent for
the offering
    ** The company offers and is developing pest control
technology that reduces fertility in animals, particularly rats 
    ** Up to Thursday's close, stock had more than doubled YTD 

 (Reporting by Manas Mishra in Bengaluru)
 ((Manas.Mishra@thomsonreuters.com; within U.S. +1 646 223 8780,
outside U.S. +91 806749 8325; Reuters Messaging:
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